Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.6% in the fourth quarter, Holdings Channel reports. The fund owned 48,968 shares of the semiconductor manufacturer’s stock after buying an additional 3,858 shares during the period. Broadcom accounts for approximately 1.1% of Fidelis Capital Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Fidelis Capital Partners LLC’s holdings in Broadcom were worth $10,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. AMF Tjanstepension AB grew its stake in shares of Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after buying an additional 908,585 shares during the period. Wealth Group Ltd. raised its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after purchasing an additional 1,584 shares in the last quarter. Swedbank AB raised its holdings in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC raised its holdings in shares of Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares in the last quarter. Finally, Pettinga Financial Advisors LLC raised its stake in Broadcom by 896.9% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock worth $502,000 after acquiring an additional 2,619 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $187.37 on Tuesday. The firm has a 50 day simple moving average of $226.54 and a 200-day simple moving average of $192.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market cap of $878.27 billion, a PE ratio of 152.83, a P/E/G ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.26%. Broadcom’s dividend payout ratio is 191.87%.

Analysts Set New Price Targets

Several brokerages recently commented on AVGO. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Piper Sandler raised their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, UBS Group raised their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

About 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.