Newport Capital Group LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Newport Capital Group LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,088 shares of the semiconductor manufacturer's stock, valued at approximately $252,000.

A number of other large investors have also recently bought and sold shares of AVGO. State Street Corp boosted its stake in Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its stake in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. FMR LLC boosted its stake in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its stake in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 0.1 %

Shares of Broadcom stock traded up $0.20 during trading hours on Wednesday, hitting $228.73. The company's stock had a trading volume of 16,353,777 shares, compared to its average volume of 28,060,891. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a 50 day moving average of $229.29 and a 200 day moving average of $189.00. The company has a market capitalization of $1.07 trillion, a PE ratio of 186.57, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. 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 announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. Broadcom's dividend payout ratio (DPR) is presently 192.50%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Hsbc Global Res raised Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Mizuho upped their price target on Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Benchmark reaffirmed a "buy" rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.04.

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company's stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

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.