PFG Advisors grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,261 shares of the semiconductor manufacturer's stock after buying an additional 7,061 shares during the quarter. PFG Advisors' holdings in Broadcom were worth $8,639,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Pin Oak Investment Advisors Inc. grew its stake in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC lifted its holdings in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $33,000. 76.43% of the stock is owned by institutional investors.
A number of research firms have commented on AVGO. TD Cowen lifted their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Truist Financial boosted their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Hsbc Global Res upgraded shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $231.48.
View Our Latest Research Report on Broadcom
In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company's stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the firm's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company's stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company's stock.
NASDAQ:AVGO traded up $4.14 during midday trading on Wednesday, reaching $194.23. 30,336,958 shares of the stock traded hands, compared to its average volume of 29,481,684. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The business has a 50-day moving average of $220.42 and a two-hundred day moving average of $193.44. 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 market capitalization of $913.26 billion, a PE ratio of 158.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Broadcom's revenue for the quarter was up 51.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.22%. Broadcom's dividend payout ratio is currently 113.46%.
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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