Fairvoy Private Wealth LLC Buys Shares of 28,771 Broadcom Inc. (NASDAQ:AVGO)

Fairvoy Private Wealth LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel.com reports. The firm bought 28,771 shares of the semiconductor manufacturer’s stock, valued at approximately $6,670,000. Broadcom comprises about 1.8% of Fairvoy Private Wealth LLC’s investment portfolio, making the stock its 16th largest position.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $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% 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 purchasing an additional 89,975,941 shares in the last quarter. FMR LLC raised 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 worth $15,594,088,000 after acquiring an additional 82,998,328 shares during the last quarter. Jennison Associates LLC raised its stake in shares of 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Broadcom by 975.4% in 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 acquiring an additional 30,674,902 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on AVGO. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Barclays raised their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Trading Down 2.8 %

AVGO opened at $224.87 on Monday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market capitalization of $1.05 trillion, a P/E ratio of 183.42, a PEG ratio of 2.42 and a beta of 1.02. The stock’s fifty day moving average is $219.76 and its two-hundred day moving average is $184.32. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the sale, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

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.