Strategic Investment Advisors MI Reduces Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Strategic Investment Advisors MI lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,973 shares of the semiconductor manufacturer’s stock after selling 1,744 shares during the quarter. Broadcom makes up about 1.2% of Strategic Investment Advisors MI’s holdings, making the stock its 27th largest position. Strategic Investment Advisors MI’s holdings in Broadcom were worth $10,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its stake in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Broadcom by 976.6% in 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 purchasing an additional 89,975,941 shares in the last quarter. FMR LLC boosted its stake in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of 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 buying an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 valued at $5,833,894,000 after buying an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $206.35 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company’s fifty day moving average price is $210.37 and its two-hundred day moving average price is $181.05. The firm has a market capitalization of $967.24 billion, a P/E ratio of 168.31, a P/E/G ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. 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 1.14%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Analyst Ratings Changes

A number of analysts recently issued reports on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Barclays lifted their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Mizuho upped their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, TD Cowen boosted their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % 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 worth $44,964,800. Insiders own 2.00% of the company’s stock.

About Broadcom

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.