Values First Advisors Inc. Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Values First Advisors Inc. acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,039 shares of the semiconductor manufacturer’s stock, valued at approximately $473,000.

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

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Benchmark restated a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $233.04 on Friday. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 190.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a 50 day moving average price of $226.16 and a 200-day moving average price of $187.02. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.01%. Broadcom’s dividend payout ratio is currently 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.