Wafra Inc. Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Wafra Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 157.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,315 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,752 shares during the quarter. Wafra Inc.’s holdings in Broadcom were worth $15,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of AVGO. International Assets Investment Management LLC raised its position in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after buying an additional 3,324,288 shares in the last quarter. Wellington Management Group LLP lifted its stake in Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Broadcom during the 3rd quarter valued at about $560,563,000. FMR LLC raised its holdings in shares of Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after buying an additional 573,826 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Broadcom by 19.1% in the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after buying an additional 514,120 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were 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 in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following 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. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 1.2 %

NASDAQ AVGO traded down $16.84 during mid-day trading on Friday, reaching $1,395.29. The stock had a trading volume of 1,817,367 shares, compared to its average volume of 2,287,940. The company has a fifty day moving average price of $1,311.32 and a 200 day moving average price of $1,182.12. 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 1 year low of $656.00 and a 1 year high of $1,445.40. The stock has a market cap of $646.61 billion, a PE ratio of 51.72, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s 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. On average, research analysts expect that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.51%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. UBS Group raised their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Susquehanna raised their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, Cantor Fitzgerald upped their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,296.91.

Check Out Our Latest Stock Analysis on Broadcom

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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