Broadcom Inc. $AVGO Holdings Decreased by Investor s Fiduciary Advisor Network LLC

Investor s Fiduciary Advisor Network LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 15.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,202 shares of the semiconductor manufacturer’s stock after selling 2,056 shares during the period. Broadcom comprises approximately 1.3% of Investor s Fiduciary Advisor Network LLC’s holdings, making the stock its 14th largest holding. Investor s Fiduciary Advisor Network LLC’s holdings in Broadcom were worth $3,695,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Norges Bank acquired a new position in Broadcom during the 2nd quarter valued at approximately $18,579,549,000. Vanguard Group Inc. lifted its stake in Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after buying an additional 6,222,802 shares during the last quarter. Edgewood Management LLC bought a new stake in Broadcom in the second quarter valued at $1,571,438,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Broadcom by 115.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer’s stock valued at $1,658,680,000 after acquiring an additional 3,224,739 shares during the period. Finally, Invesco Ltd. grew its position in shares of Broadcom by 8.4% during the second quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after acquiring an additional 2,978,768 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Henry Samueli sold 320,316 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. This represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 38,281 shares of Broadcom stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value 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. The trade was a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 779,901 shares of company stock worth $284,069,237 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

Broadcom Price Performance

NASDAQ:AVGO opened at $320.33 on Wednesday. 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 business’s 50-day moving average price is $353.53 and its 200 day moving average price is $338.61. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The firm has a market cap of $1.52 trillion, a P/E ratio of 67.30, a PEG ratio of 1.10 and a beta of 1.21.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share 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 company had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter last year, the firm posted $1.42 EPS. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were given a $0.65 dividend. 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%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. Rosenblatt Securities lifted their price objective on shares of Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Bank of America raised their price target on shares of Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Truist Financial lifted their price target on Broadcom from $500.00 to $510.00 and gave the company a “buy” rating in a report on Friday, December 19th. Oppenheimer boosted their price objective on Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Evercore ISI raised their target price on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Two 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $437.28.

Get Our Latest Stock Analysis on Broadcom

Broadcom Company 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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