Sanchez Wealth Management Group acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,105 shares of the semiconductor manufacturer's stock, valued at approximately $256,000.
A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. State Street Corp grew its position 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the last quarter. FMR LLC boosted its stake in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 buying an additional 30,674,902 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.
Broadcom Stock Performance
NASDAQ AVGO traded down $2.76 during trading on Friday, hitting $233.04. The company's stock had a trading volume of 16,966,917 shares, compared to its average volume of 30,073,216. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $226.16 and a 200 day moving average price of $187.02. The firm has a market cap of $1.09 trillion, a P/E ratio of 190.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Equities research analysts forecast 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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 192.50%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Mizuho increased their target price on Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Benchmark restated a "buy" rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $225.04.
Get Our Latest Stock Report on Broadcom
Insider Transactions at Broadcom
In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares of the company's stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.
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.
Recommended Stories
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
