Broadcom Inc. $AVGO Shares Purchased by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 129.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 61,989 shares of the semiconductor manufacturer’s stock after buying an additional 35,020 shares during the period. Ameritas Advisory Services LLC’s holdings in Broadcom were worth $21,454,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares during the period. Invesco Ltd. grew its position in shares of Broadcom by 1.8% during the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after acquiring an additional 700,021 shares during the period. Legal & General Group Plc grew its position in shares of Broadcom by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after acquiring an additional 748,709 shares during the period. Franklin Resources Inc. grew its position in shares of Broadcom by 4.0% during the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer’s stock valued at $9,736,038,000 after acquiring an additional 1,124,590 shares during the period. Finally, Amundi grew its position in shares of Broadcom by 3.3% during the 3rd quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer’s stock valued at $7,453,320,000 after acquiring an additional 716,523 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 1.1%

Shares of Broadcom stock opened at $420.71 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $367.36 and its 200 day moving average price is $354.90. Broadcom Inc. has a twelve month low of $221.60 and a twelve month high of $442.36. The firm has a market capitalization of $1.99 trillion, a PE ratio of 82.17, a P/E/G ratio of 0.88 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period last year, the company posted $1.60 EPS. The business’s revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is 50.78%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 38,841 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares of the company’s stock, valued at $30,920,875.20. This trade represents a 28.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AVGO shares. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. DA Davidson raised shares of Broadcom to a “hold” rating in a research note on Friday, February 13th. TD Cowen reaffirmed a “buy” rating and issued a $500.00 price target (up from $405.00) on shares of Broadcom in a research note on Friday. Wolfe Research raised shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target on the stock in a research note on Friday, January 30th. Finally, Mizuho reaffirmed an “outperform” rating and issued a $480.00 price target on shares of Broadcom in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $442.13.

Broadcom 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.