World Investment Advisors Grows Holdings in Broadcom Inc. $AVGO

World Investment Advisors increased its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 16.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 177,710 shares of the semiconductor manufacturer’s stock after buying an additional 24,703 shares during the period. Broadcom makes up about 1.0% of World Investment Advisors’ investment portfolio, making the stock its 13th biggest position. World Investment Advisors’ holdings in Broadcom were worth $61,505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baring Financial LLC increased its position in shares of Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after purchasing an additional 29 shares during the last quarter. Five Oceans Advisors increased its position in shares of Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock worth $2,835,000 after purchasing an additional 29 shares during the last quarter. Jackson Hole Capital Partners LLC increased its position in shares of Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock worth $716,000 after purchasing an additional 30 shares during the last quarter. Private Wealth Partners LLC increased its position in shares of Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after purchasing an additional 30 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV increased its position in shares of Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $420.71 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $442.36. The firm has a 50-day simple moving average of $367.36 and a 200 day simple moving average of $354.90. The company has a market cap 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:AVGOGet Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. 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 payout ratio is presently 50.78%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AVGO shares. Zacks Research raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. DA Davidson raised shares of Broadcom to a “hold” rating in a research report on Friday, February 13th. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research report on Tuesday, April 7th. Truist Financial boosted their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada lowered their price objective on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $442.13.

View Our Latest Stock Report on AVGO

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at $105,407,616. The trade was a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares of the company’s stock, valued at $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

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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