[ad_1]
China Universal Asset Management Co. Ltd. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,594 shares of the semiconductor manufacturer’s stock after selling 5,776 shares during the quarter. Broadcom comprises about 3.2% of China Universal Asset Management Co. Ltd.’s holdings, making the stock its 5th biggest position. China Universal Asset Management Co. Ltd.’s holdings in Broadcom were worth $33,755,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of AVGO. Castleview Partners LLC grew its holdings in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. JDM Financial Group LLC grew its holdings in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $37,000. Finally, Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Broadcom
In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction 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 sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. Insiders own 2.00% of the company’s stock.
Analyst Upgrades and Downgrades
AVGO has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Truist Financial boosted their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.
Check Out Our Latest Stock Report on AVGO
Broadcom Price Performance
Shares of NASDAQ:AVGO opened at $217.73 on Tuesday. The company’s fifty day moving average price is $213.41 and its 200-day moving average price is $182.20. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 177.60, a PEG ratio of 2.31 and a beta of 1.03. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. 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 issued its quarterly 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. The firm 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 business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.08%. Broadcom’s dividend payout ratio is presently 191.87%.
Broadcom 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.
Featured Articles
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO – Free Report).
Receive News & Ratings for Broadcom Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Broadcom and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link