North Star Asset Management Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 585.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,354 shares of the semiconductor manufacturer's stock after buying an additional 10,552 shares during the quarter. North Star Asset Management Inc.'s holdings in Broadcom were worth $13,791,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Broadcom by 94.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer's stock worth $47,283,000 after purchasing an additional 36,458 shares during the last quarter. Fairfield Bush & CO. raised its stake in shares of Broadcom by 2.6% in the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer's stock worth $3,114,000 after purchasing an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer's stock worth $320,887,000 after purchasing an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Broadcom by 1.1% in the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer's stock worth $25,412,000 after purchasing an additional 420 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in shares of Broadcom in the first quarter worth about $1,095,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Trading Down 4.3 %
Broadcom stock traded down $54.28 during trading on Friday, reaching $1,204.71. 4,479,658 shares of the company were exchanged, compared to its average volume of 2,254,590. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a market capitalization of $558.29 billion, a P/E ratio of 44.65, a PEG ratio of 2.46 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock's 50 day simple moving average is $1,305.11 and its two-hundred day simple moving average is $1,122.97.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the business posted $9.83 earnings per share. The firm's revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 35.88 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. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.74%. Broadcom's dividend payout ratio is currently 77.84%.
Analyst Ratings Changes
Several brokerages recently weighed in on AVGO. UBS Group lifted their price target on Broadcom to $1,480.00 and gave the company a "buy" rating in a research report on Monday, February 26th. Oppenheimer reiterated an "outperform" rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Susquehanna lifted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a "positive" rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,285.41.
Check Out Our Latest Stock Report on Broadcom
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now owns 41,974 shares in the company, valued at $55,257,092.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of the business's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 2,500 shares of the business's stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last quarter. 2.00% of the stock is currently owned by company insiders.
Broadcom Company Profile
(
Free Report)
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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