Russell Investments Group Ltd. Has $205.26 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Russell Investments Group Ltd. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 16.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 183,792 shares of the semiconductor manufacturer’s stock after buying an additional 25,981 shares during the period. Russell Investments Group Ltd.’s holdings in Broadcom were worth $205,261,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. acquired a new position in shares of Broadcom during the fourth quarter worth $25,000. PSI Advisors LLC lifted its holdings in shares of Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the period. Macroview Investment Management LLC acquired a new position in shares of Broadcom during the third quarter worth $29,000. BKM Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth $29,000. Finally, CKW Financial Group acquired a new position in shares of Broadcom during the fourth quarter worth $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 3.8 %

Shares of NASDAQ:AVGO traded up $49.65 during midday trading on Friday, hitting $1,344.07. 2,409,983 shares of the company’s stock were exchanged, compared to its average volume of 2,322,994. 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 has a 50 day moving average price of $1,306.70 and a 200-day moving average price of $1,134.07. The company has a market cap of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm posted $9.83 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Cantor Fitzgerald lifted their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Mizuho boosted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

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.