Mutual Advisors LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,525 shares of the semiconductor manufacturer’s stock after purchasing an additional 338 shares during the period. Mutual Advisors LLC’s holdings in Broadcom were worth $5,885,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Veracity Capital LLC grew its holdings in shares of Broadcom by 7.6% during the third quarter. Veracity Capital LLC now owns 537 shares of the semiconductor manufacturer’s stock worth $239,000 after buying an additional 38 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Broadcom during the third quarter worth about $118,000. Hillsdale Investment Management Inc. grew its holdings in shares of Broadcom by 9.2% during the third quarter. Hillsdale Investment Management Inc. now owns 1,314 shares of the semiconductor manufacturer’s stock worth $584,000 after buying an additional 111 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of Broadcom by 14.6% during the third quarter. TCI Wealth Advisors Inc. now owns 464 shares of the semiconductor manufacturer’s stock worth $206,000 after buying an additional 59 shares during the last quarter. Finally, Rathbones Group Plc purchased a new position in shares of Broadcom during the third quarter worth about $271,000. Institutional investors and hedge funds own 81.28% of the company’s stock.
Broadcom Price Performance
Shares of Broadcom stock traded up $7.97 during trading on Monday, hitting $638.94. 529,165 shares of the company were exchanged, compared to its average volume of 2,284,637. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 1.64. Broadcom Inc. has a fifty-two week low of $415.07 and a fifty-two week high of $645.31. The stock has a market capitalization of $266.39 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 1.26 and a beta of 1.10. The firm has a 50 day moving average price of $597.58 and a 200 day moving average price of $536.31.
Broadcom (NASDAQ:AVGO – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.38 by $0.95. Broadcom had a return on equity of 73.52% and a net margin of 37.19%. The firm had revenue of $8.92 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the firm posted $7.68 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 38.09 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 22nd will be given a dividend of $4.60 per share. The ex-dividend date is Tuesday, March 21st. This represents a $18.40 annualized dividend and a dividend yield of 2.88%. Broadcom’s dividend payout ratio is currently 61.93%.
Analyst Ratings Changes
A number of research firms recently issued reports on AVGO. StockNews.com began coverage on Broadcom in a report on Thursday. They set a “buy” rating on the stock. Evercore ISI lifted their price objective on Broadcom to $650.00 in a report on Monday, December 12th. Truist Financial lifted their price objective on Broadcom from $659.00 to $700.00 and gave the company a “buy” rating in a report on Friday, March 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $720.00 price objective on shares of Broadcom in a report on Monday, December 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $775.00 price objective on shares of Broadcom in a report on Wednesday, March 1st. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $674.17.
Insider Buying and Selling
In other Broadcom news, Director Eddy W. Hartenstein sold 3,175 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $625.01, for a total value of $1,984,406.75. Following the completion of the transaction, the director now directly owns 9,734 shares in the company, valued at approximately $6,083,847.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.
Broadcom Profile
Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.