Integrated Financial Solutions Inc. decreased its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,673 shares of the semiconductor manufacturer’s stock after selling 1,649 shares during the quarter. Broadcom makes up 16.9% of Integrated Financial Solutions Inc.’s portfolio, making the stock its 3rd biggest position. Integrated Financial Solutions Inc.’s holdings in Broadcom were worth $25,498,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Baring Financial LLC grew its stake in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after acquiring an additional 29 shares during the last quarter. Five Oceans Advisors grew its stake in shares of Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock worth $2,835,000 after acquiring an additional 29 shares during the last quarter. Arthur M. Cohen & Associates LLC grew its stake in shares of Broadcom by 0.6% in the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after acquiring an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC grew its stake in shares of Broadcom by 1.4% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock worth $716,000 after acquiring an additional 30 shares during the last quarter. Finally, Private Wealth Partners LLC grew its stake in shares of Broadcom by 0.7% in the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.
Analyst Upgrades and Downgrades
AVGO has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. DA Davidson raised Broadcom to a “hold” rating in a research note on Friday, February 13th. Citigroup increased their target price on Broadcom from $458.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Wells Fargo & Company raised Broadcom from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $410.00 to $430.00 in a research note on Thursday, January 15th. Finally, Royal Bank Of Canada cut their target price on Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $435.30.
View Our Latest Stock Report on AVGO
Broadcom Trading Up 2.0%
Broadcom stock opened at $406.54 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a one year low of $161.61 and a one year high of $414.61. The stock has a market capitalization of $1.92 trillion, a PE ratio of 79.40, a price-to-earnings-growth ratio of 0.82 and a beta of 1.24. The business’s fifty day moving average is $333.37 and its 200 day moving average is $345.18.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same period last year, the firm posted $1.60 earnings per share. Broadcom’s revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is 50.78%.
Key Headlines Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
Insider Activity at Broadcom
In related news, Director Justine Page sold 2,018 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director directly owned 18,164 shares of the company’s stock, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the transaction, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. The trade was a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 over the last three months. 1.90% of the stock is owned by insiders.
About Broadcom
Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.
On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.
See Also
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