Quilter Plc Increases Stock Position in Broadcom Inc. $AVGO

Quilter Plc raised its position in Broadcom Inc. (NASDAQ:AVGO) by 10,601.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,050 shares of the semiconductor manufacturer’s stock after acquiring an additional 162,517 shares during the quarter. Quilter Plc’s holdings in Broadcom were worth $54,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Brighton Jones LLC raised its stake in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank grew its holdings in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after acquiring an additional 1,160 shares during the period. Finally, Capital Insight Partners LLC raised its position in shares of Broadcom by 145.7% in the 2nd quarter. Capital Insight Partners LLC now owns 15,524 shares of the semiconductor manufacturer’s stock worth $4,279,000 after acquiring an additional 9,205 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You purchased 1,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were acquired at an average cost of $325.13 per share, for a total transaction of $325,130.00. Following the completion of the transaction, the director owned 36,602 shares of the company’s stock, valued at approximately $11,900,408.26. The trade was a 2.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 70,000 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the sale, the chief executive officer directly owned 132,836 shares of the company’s stock, valued at approximately $46,133,942.80. The trade was a 34.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 779,901 shares of company stock valued at $284,069,237 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.2%

AVGO stock opened at $331.30 on Friday. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 69.60, a P/E/G ratio of 1.10 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The business has a fifty day moving average price of $355.76 and a 200-day moving average price of $337.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 return on equity of 37.45% and a net margin of 36.20%.The company had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. Broadcom’s revenue was up 28.2% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.8%. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVGO. KeyCorp restated an “overweight” rating and set a $500.00 price target (up from $460.00) on shares of Broadcom in a research report on Friday, December 12th. Piper Sandler restated an “overweight” rating and set a $430.00 target price (up previously from $375.00) on shares of Broadcom in a report on Friday, December 12th. Wells Fargo & Company raised shares of Broadcom from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $410.00 to $430.00 in a research report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadcom in a research note on Monday, December 29th. Finally, Bank of America boosted their price objective on shares of Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $437.28.

Broadcom Company 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.