Bank Julius Baer & Co. Ltd Zurich raised its holdings in Broadcom Inc. (NASDAQ: AVGO – Get Rating) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,034 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,207 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Broadcom were worth $ 21,315,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Crestwood Advisors Group LLC increased its holdings in shares of Broadcom by 43.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 690 shares of the semiconductor manufacturer’s stock valued at $ 459,000 after purchasing an additional 209 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Broadcom by 63.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 5,438 shares of the semiconductor manufacturer’s stock valued at $ 3,619,000 after purchasing an additional 2,112 shares during the period. Icapital Wealth LLC acquired a new position in shares of Broadcom in the 4th quarter valued at about $ 283,000. Peapack Gladstone Financial Corp increased its holdings in shares of Broadcom by 0.4% in the 4th quarter. Peapack Gladstone Financial Corp now owns 6,150 shares of the semiconductor manufacturer’s stock valued at $ 4,093,000 after purchasing an additional 27 shares during the period. Finally, Blueprint Investment Partners LLC increased its holdings in shares of Broadcom by 35.5% in the 4th quarter. Blueprint Investment Partners LLC now owns 1,012 shares of the semiconductor manufacturer’s stock valued at $ 673,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 81.53% of the company stock.
In other news, insider Mark David Brazeal sold 11,214 shares of the firm’s stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $ 610.00, for a total value of $ 6,840,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas H. Krause sold 13,863 shares of the firm’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $ 585.29, for a total value of $ 8,113,875.27. The disclosure for this sale can be found here. Insiders have sold 31,273 shares of company stock valued at $ 18,818,718 over the last quarter. Corporate insiders own 2.30% of the company stock.
AVGO has been the subject of several recent research reports. Piper Sandler reissued a “buy” rating and issued a $ 750.00 price target on shares of Broadcom in a research note on Tuesday, May 24th. Morgan Stanley lowered their price target on Broadcom from $ 723.00 to $ 703.00 and set an “overweight” rating for the company in a research note on Friday, March 4th. Susquehanna Bancshares reissued a “buy” rating and issued a $ 680.00 price target on shares of Broadcom in a research note on Tuesday, March 1st. Truist Financial upped their target price on Broadcom to $ 658.00 in a research report on Friday, May 27th. Finally, UBS Group upped their target price on Broadcom from $ 665.00 to $ 690.00 and gave the stock a “buy” rating in a research report on Friday, March 4th. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Buy” and a consensus price target of $ 685.70.
Shares of NASDAQ AVGO opened at $ 517.62 on Tuesday. The business has a fifty day simple moving average of $ 573.31 and a 200 day simple moving average of $ 591.81. The company has a current ratio of 2.14, a quick ratio of 1.90 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $ 209.03 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.02 and a beta of 1.04. Broadcom Inc. has a one year low of $ 455.71 and a one year high of $ 677.76.
Broadcom (NASDAQ: AVGO – Get Rating) last issued its earnings results on Thursday, May 26th. The semiconductor manufacturer reported $ 9.07 EPS for the quarter, beating analysts’ consensus estimates of $ 7.88 by $ 1.19. Broadcom had a return on equity of 56.29% and a net margin of 29.76%. The business had revenue of $ 8.10 billion during the quarter, compared to analyst estimates of $ 7.91 billion. During the same period in the prior year, the company posted $ 5.89 earnings per share. Broadcom’s revenue was up 22.6% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 33.95 earnings per share for the current fiscal year.
Broadcom announced that its Board of Directors has authorized a share buyback plan on Thursday, May 26th that allows the company to repurchase $ 10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 22nd will be paid a dividend of $ 4.10 per share. The ex-dividend date of this dividend is Tuesday, June 21st. This represents a $ 16.40 annualized dividend and a yield of 3.17%. Broadcom’s dividend payout ratio is currently 81.31%.
Broadcom Profile: (Get Rating)
Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.
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