Oak Ridge Investments LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,123 shares of the semiconductor manufacturer's stock after buying an additional 10,766 shares during the period. Broadcom makes up about 3.5% of Oak Ridge Investments LLC's holdings, making the stock its 6th biggest position. Oak Ridge Investments LLC's holdings in Broadcom were worth $45,005,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Dakota Community Bank & Trust NA boosted its stake in Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after buying an additional 45 shares in the last quarter. Defined Wealth Management LLC boosted its stake in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after buying an additional 47 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in Broadcom by 0.9% in the 4th quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer's stock valued at $1,250,000 after buying an additional 47 shares in the last quarter. Kades & Cheifetz LLC boosted its stake in Broadcom by 0.8% in the 4th quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer's stock valued at $1,536,000 after buying an additional 51 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Broadcom by 0.5% in the 4th quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer's stock valued at $2,222,000 after buying an additional 52 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
Broadcom Trading Up 1.2 %
NASDAQ:AVGO traded up $2.87 on Tuesday, reaching $240.31. The company's stock had a trading volume of 30,766,885 shares, compared to its average volume of 25,676,523. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $1.13 trillion, a PE ratio of 196.01, a PEG ratio of 2.48 and a beta of 1.03. The business's 50-day moving average price is $203.18 and its two-hundred day moving average price is $178.65.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. The company's revenue was up 51.2% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom's dividend payout ratio is currently 192.50%.
Analyst Upgrades and Downgrades
AVGO has been the subject of several research analyst reports. Mizuho lifted their price objective on Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Morgan Stanley lifted their price objective on Broadcom from $233.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Finally, Barclays lifted their price objective on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $225.83.
Get Our Latest Report on Broadcom
Insider Buying and Selling
In other Broadcom news, Director Harry L. You sold 6,540 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company's stock.
About Broadcom
(
Free Report)
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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