Metis Global Partners LLC Has $27.22 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Metis Global Partners LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 36.8% in the 4th quarter, HoldingsChannel reports. The fund owned 24,387 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,563 shares during the period. Broadcom makes up approximately 1.1% of Metis Global Partners LLC’s investment portfolio, making the stock its 14th biggest holding. Metis Global Partners LLC’s holdings in Broadcom were worth $27,222,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Stuart Chaussee & Associates Inc. purchased a new stake in Broadcom during the fourth quarter worth about $25,000. PSI Advisors LLC increased its stake in shares of Broadcom by 66.7% during the 4th 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 last quarter. Macroview Investment Management LLC bought a new stake in shares of Broadcom in the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new position in Broadcom in the fourth quarter valued at approximately $29,000. Finally, CKW Financial Group bought a new position in Broadcom during the fourth quarter valued at $30,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The shares were 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 $62,465.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 over the last three months. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AVGO. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, Susquehanna increased their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Up 3.2 %

Broadcom stock traded up $39.54 during mid-day trading on Friday, hitting $1,278.11. The company’s stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The business has a 50 day moving average price of $1,308.66 and a 200-day moving average price of $1,151.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock has a market cap of $592.30 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is 77.84%.

Broadcom Company Profile

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.