By otakuyassine3@gmail.com 
Sage Advisors LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,576 shares of the semiconductor manufacturer’s stock after selling 277 shares during the quarter. Broadcom accounts for approximately 0.3% of Sage Advisors LLC’s holdings, making the stock its 23rd biggest position. Sage Advisors LLC’s holdings in Broadcom were worth $365,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of AVGO. State Street Corp boosted its stake in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted 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 valued at $17,055,760,000 after acquiring an additional 89,975,941 shares in 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 acquiring an additional 82,998,328 shares during the period. Jennison Associates LLC raised its position in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $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.
Insiders Place Their Bets
In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated 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 transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Truist Financial lifted their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.
Check Out Our Latest Research Report on Broadcom
Broadcom Price Performance
Shares of AVGO opened at $233.04 on Tuesday. 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 stock has a market cap of $1.09 trillion, a P/E ratio of 190.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The stock’s 50-day moving average price is $226.16 and its two-hundred day moving average price is $187.51. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm 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 business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 1.01%. This is a boost 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 presently 192.50%.
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.
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