Union Bancaire Privee UBP SA Acquires Shares of 313,087 Broadcom Inc. (NASDAQ:AVGO)

Union Bancaire Privee UBP SA purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 313,087 shares of the semiconductor manufacturer's stock, valued at approximately $71,312,000. Broadcom accounts for about 1.5% of Union Bancaire Privee UBP SA's investment portfolio, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dakota Community Bank & Trust NA grew its holdings in Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock worth $391,000 after acquiring an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC grew its stake in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after purchasing an additional 45 shares during the last quarter. Defined Wealth Management LLC increased its holdings in shares of Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after purchasing an additional 47 shares in the last quarter. Integrated Investment Consultants LLC raised its position in Broadcom by 0.9% in the 4th quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer's stock worth $1,250,000 after purchasing an additional 47 shares during the last quarter. Finally, Register Financial Advisors LLC lifted its holdings in Broadcom by 1.3% during the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer's stock worth $856,000 after buying an additional 47 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 5.1 %

Broadcom stock traded up $10.50 during midday trading on Thursday, reaching $216.85. The stock had a trading volume of 30,608,634 shares, compared to its average volume of 30,738,475. 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's fifty day simple moving average is $211.24 and its 200-day simple moving average is $181.27. The stock has a market capitalization of $1.02 trillion, a P/E ratio of 176.94, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts' consensus estimates 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%. The firm's revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 192.50%.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVGO. Morgan Stanley dropped their target price on Broadcom from $265.00 to $246.00 and set an "overweight" rating for the company in a research report on Tuesday. Rosenblatt Securities reissued a "buy" rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Benchmark restated a "buy" rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.04.

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.