Broadcom Inc. (NASDAQ:AVGO) Shares Sold by MA Private Wealth

MA Private Wealth lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,341 shares of the semiconductor manufacturer’s stock after selling 59 shares during the period. MA Private Wealth’s holdings in Broadcom were worth $543,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AVGO. State Street Corp lifted its stake 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 lifted its stake in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC lifted its stake in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the period. Jennison Associates LLC lifted its stake 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 purchasing an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Broadcom by 975.4% in 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 purchasing an additional 30,674,902 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $222.43 on Wednesday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a 50 day moving average price of $214.47 and a 200 day moving average price of $182.60. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 181.43, a PEG ratio of 2.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.06%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Evercore ISI raised their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Truist Financial raised their target price on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three equities research 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 company presently has an average rating of “Moderate Buy” and an average price target 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.