Analyst IMS Investment Management Services Ltd. Purchases 5,542 Shares of Broadcom Inc. $AVGO

Analyst IMS Investment Management Services Ltd. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 13.1% during the 3rd quarter, Holdings Channel reports. The firm owned 47,753 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,542 shares during the quarter. Broadcom comprises 0.5% of Analyst IMS Investment Management Services Ltd.’s portfolio, making the stock its 23rd biggest holding. Analyst IMS Investment Management Services Ltd.’s holdings in Broadcom were worth $15,754,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sawyer & Company Inc lifted its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Broadcom in the 2nd quarter valued at $27,000. Legend Financial Advisors Inc. bought a new stake in Broadcom in the 2nd quarter valued at $28,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom during the 2nd quarter valued at $28,000. Finally, LGT Financial Advisors LLC bought a new position in Broadcom during the second quarter worth $31,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 3,714 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.79, for a total transaction of $1,217,412.06. Following the completion of the sale, the chief financial officer owned 307,237 shares of the company’s stock, valued at $100,709,216.23. This represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 25,921 shares of the stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $352.07, for a total transaction of $9,126,006.47. Following the sale, the insider owned 240,573 shares in the company, valued at $84,698,536.11. The trade was a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 650,701 shares of company stock worth $239,190,157 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $347.62 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1.65 trillion, a P/E ratio of 73.03, a P/E/G ratio of 1.18 and a beta of 1.21. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The firm has a 50-day moving average price of $362.90 and a two-hundred day moving average price of $327.32.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same period last year, the firm earned $1.42 earnings per share. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio is currently 54.62%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Benchmark upped their price objective on shares of Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a report on Friday, December 12th. Citigroup reaffirmed a “buy” rating and set a $480.00 target price (up previously from $415.00) on shares of Broadcom in a report on Friday, December 12th. Cowen reissued a “buy” rating on shares of Broadcom in a report on Friday, December 12th. Evercore ISI raised their price objective on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Finally, Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $436.33.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.