Ashton Thomas Private Wealth LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,544 shares of the semiconductor manufacturer's stock after purchasing an additional 11,831 shares during the quarter. Broadcom comprises 1.1% of Ashton Thomas Private Wealth LLC's investment portfolio, making the stock its 12th biggest position. Ashton Thomas Private Wealth LLC's holdings in Broadcom were worth $28,411,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Broadcom by 948.5% during the 3rd 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 period. Geode Capital Management LLC lifted its stake in Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC boosted its holdings in shares of Broadcom by 1,121.3% in the 3rd 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 in the last quarter. Jennison Associates LLC increased its stake in shares of Broadcom by 842.4% in the 3rd 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 raised its holdings in shares of Broadcom by 975.4% during the 3rd 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 buying an additional 30,674,902 shares in the last quarter. Institutional investors own 76.43% of the company's stock.
AVGO traded up $15.51 during trading on Friday, reaching $194.96. 74,457,084 shares of the stock traded hands, compared to its average volume of 29,623,508. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock's 50-day moving average is $222.28 and its 200 day moving average is $192.74. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market capitalization of $913.85 billion, a PE ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 191.87%.
In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares of the company's stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by corporate insiders.
AVGO has been the topic of several research analyst reports. Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $231.48.
Read Our Latest Stock Report on 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.
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