SRN Advisors LLC Has $2.90 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

SRN Advisors LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,494 shares of the semiconductor manufacturer’s stock after selling 878 shares during the period. Broadcom comprises about 2.6% of SRN Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. SRN Advisors LLC’s holdings in Broadcom were worth $2,897,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake 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 grew its position in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after buying an additional 89,975,941 shares during the period. FMR LLC grew its position in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC grew its position in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 975.4% during 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 period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $197.80 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm’s fifty day moving average price is $227.87 and its two-hundred day moving average price is $191.51. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market capitalization of $927.16 billion, a P/E ratio of 161.34, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current 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 issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is currently 191.87%.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AVGO shares. Barclays boosted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Bank of America upped their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Profile

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.