Global Retirement Partners LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 50.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,746 shares of the semiconductor manufacturer’s stock after buying an additional 1,250 shares during the quarter. Global Retirement Partners LLC’s holdings in Broadcom were worth $1,640,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Lombard Odier Asset Management Europe Ltd acquired a new position in Broadcom in the 3rd quarter valued at $1,357,000. Employers Holdings Inc. acquired a new position in Broadcom in the 3rd quarter valued at $933,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Broadcom by 2.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,194 shares of the semiconductor manufacturer’s stock valued at $13,914,000 after buying an additional 769 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Broadcom by 6.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 38,882 shares of the semiconductor manufacturer’s stock valued at $14,165,000 after buying an additional 2,281 shares during the last quarter. Finally, Cetera Advisor Networks LLC grew its stake in Broadcom by 33.9% in the 3rd quarter. Cetera Advisor Networks LLC now owns 11,188 shares of the semiconductor manufacturer’s stock valued at $4,076,000 after buying an additional 2,830 shares during the last quarter. Institutional investors and hedge funds own 80.62% of the company’s stock.
In other Broadcom news, CEO Hock E. Tan sold 14,025 shares of the firm’s stock in a transaction dated Thursday, December 17th. The shares were sold at an average price of $424.90, for a total value of $5,959,222.50. Following the completion of the sale, the chief executive officer now owns 217,832 shares in the company, valued at approximately $92,556,816.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 78,125 shares of Broadcom stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $390.20, for a total transaction of $30,484,375.00. The disclosure for this sale can be found here. Insiders sold a total of 332,928 shares of company stock valued at $134,075,933 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 9th. The semiconductor manufacturer reported $6.35 earnings per share for the quarter, beating the consensus estimate of $6.25 by $0.10. The firm had revenue of $6.47 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Broadcom had a net margin of 12.39% and a return on equity of 35.23%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.39 EPS. As a group, research analysts expect that Broadcom Inc. will post 23.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Monday, December 21st were given a $3.60 dividend. This represents a $14.40 annualized dividend and a yield of 3.19%. The ex-dividend date was Friday, December 18th. This is a boost from Broadcom’s previous quarterly dividend of $3.25. Broadcom’s dividend payout ratio (DPR) is presently 78.05%.
A number of brokerages have weighed in on AVGO. Morgan Stanley increased their price target on shares of Broadcom from $415.00 to $440.00 and gave the company an “overweight” rating in a report on Monday, December 7th. Oppenheimer reissued a “buy” rating and issued a $475.00 price target on shares of Broadcom in a report on Friday, December 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $450.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 11th. Mizuho increased their price target on shares of Broadcom from $460.00 to $480.00 and gave the company a “buy” rating in a report on Monday, December 28th. Finally, Zacks Investment Research raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $439.00 price target for the company in a report on Wednesday, December 16th. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and an average price target of $418.57.
Broadcom Inc designs, develops, and supplies a range of 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 through three segments: Semiconductor Solutions, Infrastructure Software, and Intellectual Property licensing.
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