Opus Capital Group LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,258 shares of the semiconductor manufacturer's stock after selling 2,053 shares during the period. Opus Capital Group LLC's holdings in Broadcom were worth $1,219,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock worth $31,814,902,000 after buying an additional 166,844,263 shares during the period. Geode Capital Management LLC raised its holdings in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares in the last quarter. FMR LLC lifted 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 acquiring an additional 82,998,328 shares during the period. Jennison Associates LLC grew its holdings in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadcom by 975.4% during the 3rd 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 valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.
Broadcom Stock Performance
Shares of NASDAQ AVGO traded down $8.84 during trading on Friday, reaching $217.90. 12,635,342 shares of the company traded hands, compared to its average volume of 27,238,252. The stock has a market cap of $1.02 trillion, a P/E ratio of 177.78, a PEG ratio of 2.39 and a beta of 1.02. The firm's fifty day simple moving average is $230.21 and its 200 day simple moving average is $189.26. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.
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 for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. Broadcom's quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. As a group, 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 declared 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 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 yield of 1.08%. Broadcom's dividend payout ratio is 191.87%.
Insider Activity at Broadcom
In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company's stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company's stock, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. 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. 2.00% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Bank of America boosted their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Jefferies Financial Group upped their price target on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Morgan Stanley reduced their target price on Broadcom from $265.00 to $246.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average target price of $225.04.
Check Out Our Latest Stock Report on AVGO
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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