Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by SVB Wealth LLC

SVB Wealth LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,570 shares of the semiconductor manufacturer's stock after buying an additional 4,590 shares during the quarter. Broadcom comprises 1.3% of SVB Wealth LLC's portfolio, making the stock its 11th largest position. SVB Wealth LLC's holdings in Broadcom were worth $53,101,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in AVGO. State Street Corp lifted its position in shares of Broadcom by 5.0% during the 1st quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer's stock valued at $10,670,149,000 after acquiring an additional 794,832 shares during the last quarter. Morgan Stanley lifted its position in shares of Broadcom by 12.5% during the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer's stock valued at $3,287,056,000 after acquiring an additional 651,014 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Broadcom by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer's stock valued at $2,948,563,000 after acquiring an additional 488,405 shares during the last quarter. Northern Trust Corp lifted its position in shares of Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer's stock valued at $3,866,684,000 after acquiring an additional 93,615 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Broadcom by 4.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer's stock valued at $3,712,789,000 after acquiring an additional 179,272 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 2.5 %

Shares of AVGO stock traded down $33.38 on Monday, hitting $1,310.69. The stock had a trading volume of 2,416,191 shares, compared to its average volume of 2,975,872. The firm has a market cap of $607.40 billion, a P/E ratio of 48.58, a PEG ratio of 2.74 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a fifty day moving average price of $1,304.36 and a two-hundred day moving average price of $1,110.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts' consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the business posted $9.83 EPS. The company's quarterly revenue was up 34.2% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 35.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.60%. Broadcom's dividend payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Barclays initiated coverage on Broadcom in a report on Wednesday, March 20th. They issued an "overweight" rating and a $1,405.00 target price for the company. Cantor Fitzgerald increased their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an "overweight" rating in a report on Monday, March 4th. Mizuho increased their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Finally, TD Cowen upgraded Broadcom from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,255.18.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Justine Page sold 110 shares of the business's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last three months. 2.00% of the stock is 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.

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