Broadcom Inc. (NASDAQ:AVGO) is E Fund Management Co. Ltd.’s 8th Largest Position

E Fund Management Co. Ltd. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 33.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 210,115 shares of the semiconductor manufacturer’s stock after acquiring an additional 52,700 shares during the quarter. Broadcom accounts for 2.4% of E Fund Management Co. Ltd.’s portfolio, making the stock its 8th biggest holding. E Fund Management Co. Ltd.’s holdings in Broadcom were worth $48,713,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter worth about $26,000. Bellevue Asset Management LLC purchased a new position in Broadcom during the 4th quarter worth $33,000. Pin Oak Investment Advisors Inc. increased its holdings in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the period. Synergy Investment Management LLC purchased a new position in Broadcom during the 4th quarter worth $35,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Broadcom during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVGO. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Truist Financial lifted their price target on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Performance

NASDAQ:AVGO opened at $191.58 on Thursday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm’s fifty day simple moving average is $224.53 and its 200 day simple moving average is $192.64. 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 has a market capitalization of $898.00 billion, a PE ratio of 156.27, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s payout ratio is currently 191.87%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Company 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.