Essential Planning LLC. Purchases Shares of 30,930 Broadcom Inc. (NASDAQ:AVGO)

Essential Planning LLC. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 30,930 shares of the semiconductor manufacturer’s stock, valued at approximately $7,171,000.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Broadcom by 948.5% in the 3rd 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 last quarter. Geode Capital Management LLC boosted 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 valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC boosted 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 valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its holdings 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 acquiring an additional 30,674,902 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 3.1 %

NASDAQ AVGO opened at $190.09 on Wednesday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a 50-day simple moving average of $220.42 and a 200-day simple moving average of $193.44. 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 has a market capitalization of $893.79 billion, a PE ratio of 155.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last posted 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. The firm had revenue of $14.05 billion during 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%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced 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. This represents a $2.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Analyst Ratings Changes

A number of brokerages have recently commented on AVGO. Mizuho cut their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Truist Financial raised their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the 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 transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred 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 transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % 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 ninety days. Company insiders own 2.00% of the company’s stock.

About Broadcom

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.