Van Hulzen Asset Management LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Van Hulzen Asset Management LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,032 shares of the semiconductor manufacturer’s stock after buying an additional 18,835 shares during the period. Broadcom comprises about 1.5% of Van Hulzen Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Van Hulzen Asset Management LLC’s holdings in Broadcom were worth $20,410,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Howard Capital Management Group LLC grew its position in shares of Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares during the last quarter. Pettinga Financial Advisors LLC increased its stake in shares of Broadcom by 896.9% during the third quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock valued at $502,000 after buying an additional 2,619 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Broadcom by 884.6% during the third quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer’s stock valued at $20,619,000 after acquiring an additional 107,389 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 2.2 %

Shares of AVGO stock opened at $195.54 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock has a market capitalization of $919.42 billion, a P/E ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01. The firm’s 50 day moving average is $218.12 and its 200 day moving average is $193.91.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (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 the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s dividend payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AVGO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Bank of America raised their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction 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 $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. 2.00% of the stock is currently owned by insiders.

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.