Jupiter Asset Management Ltd. Purchases 63,507 Shares of Broadcom Inc. (NASDAQ:AVGO)

Jupiter Asset Management Ltd. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 268,567 shares of the semiconductor manufacturer's stock after acquiring an additional 63,507 shares during the period. Jupiter Asset Management Ltd.'s holdings in Broadcom were worth $62,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. KFA Private Wealth Group LLC grew its holdings in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock worth $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA increased its stake in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after purchasing an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC increased its stake in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after purchasing an additional 45 shares in the last quarter. Marest Capital LLC increased its stake in shares of Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC increased its stake in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after purchasing an additional 47 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVGO has been the subject of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.48.

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Insider Buying and Selling

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last three months. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $190.09 on Wednesday. The firm's fifty day simple moving average is $220.42 and its 200-day simple moving average is $193.44. The stock has a market capitalization of $893.79 billion, a price-to-earnings ratio of 155.05, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same period in the prior year, the company posted $0.98 EPS. The business's revenue for the quarter was up 51.2% on a year-over-year basis. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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