Hantz Financial Services Inc. Buys 76,098 Shares of Broadcom Inc. $AVGO

Hantz Financial Services Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 63.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,389 shares of the semiconductor manufacturer’s stock after purchasing an additional 76,098 shares during the period. Broadcom makes up approximately 1.0% of Hantz Financial Services Inc.’s holdings, making the stock its 19th largest holding. Hantz Financial Services Inc.’s holdings in Broadcom were worth $64,461,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Norges Bank purchased a new stake in Broadcom in the 2nd quarter worth approximately $18,579,549,000. Vanguard Group Inc. increased its position in Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after purchasing an additional 6,222,802 shares during the period. Edgewood Management LLC purchased a new stake in shares of Broadcom in the 2nd quarter worth about $1,571,438,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Broadcom by 115.5% during the 2nd 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 purchasing an additional 3,224,739 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Broadcom by 8.4% in the second quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after buying an additional 2,978,768 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AVGO. Robert W. Baird set a $420.00 target price on Broadcom in a research report on Friday, December 12th. KeyCorp reissued an “overweight” rating and set a $500.00 price objective (up previously from $460.00) on shares of Broadcom in a research report on Friday, December 12th. Morgan Stanley increased their price target on shares of Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Rosenblatt Securities lifted their price target 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. Finally, Zacks Research upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Two 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 company presently has a consensus rating of “Buy” and a consensus target price of $437.28.

Check Out Our Latest Research Report on Broadcom

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 70,000 shares of Broadcom stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total value of $24,311,000.00. Following the completion of the sale, the chief executive officer 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer directly owned 277,237 shares in the company, valued at $96,428,573.34. The trade was a 9.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 779,901 shares of company stock valued at $284,069,237. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $332.49 on Monday. The stock has a market capitalization of $1.58 trillion, a PE ratio of 69.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.21. The stock’s 50 day simple moving average is $348.59 and its 200 day simple moving average is $339.31. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share 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 during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue was up 28.2% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business 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 represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is 54.62%.

About Broadcom

(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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