Strategic Investment Advisors MI Decreases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Strategic Investment Advisors MI reduced its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,973 shares of the semiconductor manufacturer's stock after selling 1,744 shares during the quarter. Broadcom accounts for about 1.2% of Strategic Investment Advisors MI's investment portfolio, making the stock its 27th largest position. Strategic Investment Advisors MI's holdings in Broadcom were worth $10,890,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its stake in 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 purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC raised its holdings in 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 grew its holdings in Broadcom by 1,121.3% in the 3rd 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 last quarter. Jennison Associates LLC increased its position in shares of 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 raised its stake in shares of Broadcom by 975.4% during 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 last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Jefferies Financial Group raised their price target on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Finally, Evercore ISI increased their price target 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. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $225.04.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company's stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm'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 completion of the sale, the director now owns 46,400 shares of the company's stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO stock traded up $10.83 on Thursday, hitting $217.18. The company had a trading volume of 23,942,837 shares, compared to its average volume of 30,394,816. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 177.01, a P/E/G ratio of 2.52 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock's 50-day simple moving average is $211.24 and its 200 day simple moving average is $181.27.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter last year, the business earned $0.98 EPS. The firm's revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom's dividend payout ratio (DPR) is 192.50%.

Broadcom Company 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.