Broadcom Inc. $AVGO is International Assets Investment Management LLC’s 9th Largest Position

International Assets Investment Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.7% during the third quarter, Holdings Channel reports. The fund owned 57,914 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,108 shares during the period. Broadcom makes up about 1.4% of International Assets Investment Management LLC’s holdings, making the stock its 9th biggest holding. International Assets Investment Management LLC’s holdings in Broadcom were worth $19,106,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Global Assets Advisory LLC boosted its position in shares of Broadcom by 33.5% during the third quarter. Global Assets Advisory LLC now owns 3,048 shares of the semiconductor manufacturer’s stock valued at $1,006,000 after purchasing an additional 764 shares in the last quarter. Biltmore Family Office LLC boosted its holdings in shares of Broadcom by 4.6% during the 3rd quarter. Biltmore Family Office LLC now owns 8,199 shares of the semiconductor manufacturer’s stock valued at $2,705,000 after buying an additional 361 shares in the last quarter. GDS Wealth Management grew its position in shares of Broadcom by 3.6% in the 3rd quarter. GDS Wealth Management now owns 11,364 shares of the semiconductor manufacturer’s stock worth $3,749,000 after buying an additional 392 shares during the period. Kanawha Capital Management LLC increased its stake in shares of Broadcom by 0.9% in the 3rd quarter. Kanawha Capital Management LLC now owns 29,199 shares of the semiconductor manufacturer’s stock worth $9,633,000 after acquiring an additional 248 shares in the last quarter. Finally, Partners Capital Investment Group LLP lifted its position in Broadcom by 50.0% during the 3rd quarter. Partners Capital Investment Group LLP now owns 16,249 shares of the semiconductor manufacturer’s stock valued at $5,361,000 after acquiring an additional 5,415 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $331.30 on Friday. The business’s fifty day moving average is $355.76 and its 200 day moving average is $337.24. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. The company has a market capitalization of $1.57 trillion, a PE ratio of 69.60, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter last year, the business posted $1.42 earnings per share. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, December 22nd. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio is presently 54.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AVGO shares. Truist Financial upped their price objective on shares of Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, December 19th. TD Cowen restated a “buy” rating on shares of Broadcom in a research note on Friday, December 12th. Morgan Stanley lifted their price objective on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. increased their target price on Broadcom from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, Benchmark raised their price target on Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $437.28.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the completion of the transaction, the insider owned 266,494 shares in the company, valued at $87,316,759.10. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 320,316 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This represents a 0.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 779,901 shares of company stock worth $284,069,237 over the last 90 days. Company insiders own 2.00% of the company’s stock.

About Broadcom

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.