PFG Advisors boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,261 shares of the semiconductor manufacturer's stock after acquiring an additional 7,061 shares during the quarter. PFG Advisors' holdings in Broadcom were worth $8,639,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. State Street Corp increased 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 valued at $31,814,902,000 after acquiring an additional 166,844,263 shares during the period. Geode Capital Management LLC increased 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 valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. FMR LLC increased 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 valued at $15,594,088,000 after acquiring an additional 82,998,328 shares during the period. Jennison Associates LLC increased 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 valued at $6,209,758,000 after acquiring an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 valued at $5,833,894,000 after acquiring an additional 30,674,902 shares during the period. Institutional investors own 76.43% of the company's stock.
Broadcom Trading Up 3.1 %
Shares of NASDAQ AVGO opened at $190.09 on Wednesday. The company's 50 day simple moving average is $220.42 and its 200 day simple moving average is $193.44. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a market capitalization of $893.79 billion, a P/E ratio of 155.05, a P/E/G ratio of 2.29 and a beta of 1.01. 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 data 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. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.24%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.
Insiders Place Their Bets
In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction 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 sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Piper Sandler upped their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Finally, Truist Financial upped their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $231.48.
Check Out Our Latest Analysis on Broadcom
Broadcom Company Profile
(
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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