Capital International Sarl boosted its position in Broadcom Inc (NASDAQ:AVGO) by 40.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,884 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,311 shares during the quarter. Broadcom comprises about 1.8% of Capital International Sarl’s portfolio, making the stock its 10th biggest holding. Capital International Sarl’s holdings in Broadcom were worth $11,340,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in Broadcom by 7.6% during the fourth quarter. Capital International Investors now owns 29,539,532 shares of the semiconductor manufacturer’s stock valued at $9,335,080,000 after purchasing an additional 2,089,628 shares during the period. State Street Corp raised its position in shares of Broadcom by 0.9% in the fourth quarter. State Street Corp now owns 16,344,681 shares of the semiconductor manufacturer’s stock worth $5,165,246,000 after acquiring an additional 138,951 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of Broadcom by 35.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,907,456 shares of the semiconductor manufacturer’s stock worth $602,751,000 after acquiring an additional 494,761 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Broadcom by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,780,511 shares of the semiconductor manufacturer’s stock worth $562,678,000 after acquiring an additional 90,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Broadcom by 3.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,621,093 shares of the semiconductor manufacturer’s stock worth $512,298,000 after acquiring an additional 48,090 shares during the period. Institutional investors and hedge funds own 83.02% of the company’s stock.
A number of brokerages have weighed in on AVGO. Morgan Stanley reiterated a “buy” rating and issued a $340.00 price objective on shares of Broadcom in a research report on Friday, March 13th. Argus restated a “buy” rating and issued a $385.00 target price on shares of Broadcom in a research note on Monday, December 16th. KeyCorp cut their target price on Broadcom from $360.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Raymond James restated a “hold” rating on shares of Broadcom in a research note on Thursday, December 12th. Finally, BidaskClub upgraded Broadcom from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $313.81.
AVGO traded up $24.28 during trading on Thursday, hitting $241.83. The stock had a trading volume of 2,920,349 shares, compared to its average volume of 5,157,263. The company has a 50 day moving average price of $271.75 and a 200-day moving average price of $294.91. The firm has a market cap of $85.06 billion, a price-to-earnings ratio of 39.91, a P/E/G ratio of 1.13 and a beta of 0.87. Broadcom Inc has a one year low of $155.67 and a one year high of $331.58. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.56 and a quick ratio of 1.44.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 12th. The semiconductor manufacturer reported $5.25 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.08). The firm had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.99 billion. Broadcom had a net margin of 11.64% and a return on equity of 69.53%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $5.55 EPS. As a group, sell-side analysts predict that Broadcom Inc will post 18.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be issued a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Friday, March 20th. Broadcom’s payout ratio is 74.67%.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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