Warwick Investment Management Inc. Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Warwick Investment Management Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,174 shares of the semiconductor manufacturer’s stock after acquiring an additional 275 shares during the quarter. Warwick Investment Management Inc.’s holdings in Broadcom were worth $736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in Broadcom by 948.5% in the 3rd 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 during the period. Geode Capital Management LLC grew its position in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after buying an additional 89,975,941 shares during the last quarter. FMR LLC grew its position 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 buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC grew its position 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 worth $6,209,758,000 after buying 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 position 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 buying an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVGO. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley lifted their price objective on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group lifted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given 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 $231.48.

Broadcom Stock Performance

NASDAQ AVGO opened at $190.09 on Wednesday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. 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 business has a 50-day moving average price of $220.42 and a 200-day moving average price of $193.44. The firm has a market cap of $893.79 billion, a price-to-earnings ratio of 155.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. Broadcom’s payout ratio is 113.46%.

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.