William Blair Investment Management LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

William Blair Investment Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 202.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 647,615 shares of the semiconductor manufacturer’s stock after buying an additional 433,787 shares during the quarter. William Blair Investment Management LLC’s holdings in Broadcom were worth $150,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. KFA Private Wealth Group LLC raised its holdings in Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA grew its position in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after purchasing an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC grew its position in shares of Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares in the last quarter. Marest Capital LLC grew its position in shares of Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC grew its position in Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $195.54 on Monday. The firm has a 50 day moving average of $218.12 and a 200-day moving average of $194.16. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. 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 company has a market cap of $919.42 billion, a price-to-earnings ratio of 159.50, a PEG 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, topping 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 return on equity of 28.00% and a net margin of 11.43%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now 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. In the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AVGO shares. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Mizuho dropped their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays raised their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

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.