Values First Advisors Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,039 shares of the semiconductor manufacturer's stock, valued at approximately $473,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of 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 purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC increased its holdings in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock worth $17,055,760,000 after buying an additional 89,975,941 shares during the last quarter. FMR LLC increased its holdings in shares of 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 buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Broadcom by 842.4% in 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 purchasing an additional 32,178,542 shares in 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% in 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 in the last quarter. 76.43% of the stock is owned by institutional investors.
In related news, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company's stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 of the company's stock, valued at approximately $7,308,000. This trade represents a 17.68 % 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. 2.00% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on AVGO shares. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research report on Friday, December 13th. Morgan Stanley reduced their price objective on shares of Broadcom from $265.00 to $246.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. 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 note on Friday, December 13th. JPMorgan Chase & Co. lifted their price target 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, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $225.04.
Get Our Latest Stock Analysis on AVGO
Shares of AVGO traded down $2.76 during mid-day trading on Friday, hitting $233.04. The stock had a trading volume of 16,966,917 shares, compared to its average volume of 30,073,216. The company has a market cap of $1.09 trillion, a PE ratio of 190.08, a PEG ratio of 2.42 and a beta of 1.02. The company's fifty day simple moving average is $226.16 and its two-hundred day simple moving average is $187.33. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its 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 firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The firm's revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.
The firm also recently declared 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 is an increase from Broadcom's previous quarterly dividend of $0.53. 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 1.01%. Broadcom's payout ratio is currently 191.87%.
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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