Broadcom Inc. (NASDAQ:AVGO) Stake Lessened by RDA Financial Network

RDA Financial Network cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,576 shares of the semiconductor manufacturer’s stock after selling 648 shares during the period. Broadcom accounts for approximately 3.5% of RDA Financial Network’s portfolio, making the stock its 2nd largest position. RDA Financial Network’s holdings in Broadcom were worth $11,957,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. State Street Corp boosted its holdings in shares of Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC lifted its position in Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. FMR LLC boosted its stake in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its stake in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Barclays lifted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $225.83.

Insider Buying and Selling

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 3.5 %

Shares of AVGO stock opened at $237.44 on Friday. The company has a 50 day simple moving average of $202.01 and a two-hundred day simple moving average of $178.14. The stock has a market cap of $1.11 trillion, a P/E ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 12 month low of $112.19 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the firm earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. Broadcom’s payout ratio is 192.50%.

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.