Ewa LLC Raises Holdings in Broadcom Inc. $AVGO

Ewa LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 23.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,310 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,788 shares during the period. Broadcom accounts for about 0.9% of Ewa LLC’s investment portfolio, making the stock its 25th biggest holding. Ewa LLC’s holdings in Broadcom were worth $3,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom during the 2nd quarter valued at about $27,000. Teachers Insurance & Annuity Association of America purchased a new position in Broadcom in the second quarter worth about $28,000. LGT Financial Advisors LLC purchased a new position in Broadcom during the second quarter worth $31,000. New England Capital Financial Advisors LLC purchased a new position in shares of Broadcom during the second quarter valued at approximately $31,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Broadcom during the third quarter valued at $31,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the completion of the sale, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 320,316 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $400.53, for a total value of $128,296,167.48. Following the sale, the director owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. The trade was a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 779,901 shares of company stock valued at $284,069,237 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVGO. Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Rosenblatt Securities boosted their price target on Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Robert W. Baird set a $420.00 target price on Broadcom in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft set a $430.00 price objective on Broadcom and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Broadcom in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Buy” and an average target price of $437.28.

View Our Latest Report on Broadcom

Trending Headlines about Broadcom

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Broadcom Price Performance

AVGO stock opened at $331.30 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The stock’s 50 day moving average price is $355.76 and its 200 day moving average price is $337.63. The firm has a market cap of $1.57 trillion, a P/E ratio of 69.60, a PEG ratio of 1.10 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly 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 return on equity of 37.45% and a net margin of 36.20%.The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the company posted $1.42 EPS. Broadcom’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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