Dara Capital US Inc. purchased a new position in Broadcom Inc. (NASDAQ:AVGO – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,467 shares of the semiconductor manufacturer’s stock, valued at approximately $6,391,000. Broadcom accounts for about 5.7% of Dara Capital US Inc.’s portfolio, making the stock its 5th largest holding.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Broadcom by 1.8% in the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock worth $12,915,861,000 after acquiring an additional 700,021 shares during the period. Legal & General Group Plc grew its holdings in shares of Broadcom by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock worth $11,035,749,000 after acquiring an additional 748,709 shares during the period. Franklin Resources Inc. grew its holdings in shares of Broadcom by 4.0% in the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer’s stock worth $9,736,038,000 after acquiring an additional 1,124,590 shares during the period. Amundi grew its holdings in shares of Broadcom by 3.3% in the 3rd quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer’s stock worth $7,453,320,000 after acquiring an additional 716,523 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Broadcom by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 12,611,740 shares of the semiconductor manufacturer’s stock worth $4,160,740,000 after acquiring an additional 237,295 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.
Insider Buying and Selling at Broadcom
In other news, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the sale, the director owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by insiders.
Key Headlines Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
Broadcom Trading Up 2.0%
Shares of Broadcom stock opened at $406.54 on Friday. Broadcom Inc. has a fifty-two week low of $161.61 and a fifty-two week high of $414.61. The business’s fifty day moving average is $333.37 and its two-hundred day moving average is $345.18. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.92 trillion, a PE ratio of 79.40, a P/E/G ratio of 0.82 and a beta of 1.24.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue was up 29.5% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date 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%.
Analyst Ratings Changes
AVGO has been the topic of a number of research reports. Royal Bank Of Canada lowered their price target on Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Bank of America lowered their price target on Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Mizuho set a $480.00 target price on Broadcom and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, Morgan Stanley upped their target price on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $435.30.
Get Our Latest Analysis on AVGO
Broadcom Company Profile
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.
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