Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Sterling Financial Group Inc.

Sterling Financial Group Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 24.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,730 shares of the semiconductor manufacturer’s stock after acquiring an additional 336 shares during the quarter. Sterling Financial Group Inc.’s holdings in Broadcom were worth $401,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AVGO. State Street Corp raised its holdings in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC increased its stake in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC increased its stake in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of several analyst reports. Bank of America upped their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho upped their target price on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Jefferies Financial Group upped their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $225.83.

Broadcom Stock Up 3.5 %

Shares of NASDAQ AVGO opened at $237.44 on Friday. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 1 year low of $112.19 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock’s 50-day simple moving average is $200.93 and its 200-day simple moving average is $177.60.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the transaction, the chief financial officer now owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

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.