Peregrine Asset Advisers Inc. Purchases 20,829 Shares of Broadcom Inc. (NASDAQ:AVGO)

Peregrine Asset Advisers Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 909.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,119 shares of the semiconductor manufacturer’s stock after acquiring an additional 20,829 shares during the quarter. Broadcom makes up 2.0% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 12th biggest holding. Peregrine Asset Advisers Inc.’s holdings in Broadcom were worth $5,360,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AVGO. State Street Corp lifted its holdings in Broadcom by 948.5% in 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 period. Geode Capital Management LLC increased its position in Broadcom by 976.6% in 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 buying an additional 89,975,941 shares in the last quarter. FMR LLC increased its position in Broadcom by 1,121.3% in the third 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 in the last quarter. Jennison Associates LLC increased its position in 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 buying an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadcom by 975.4% in the third 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.

Insider Activity

In related news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $218.61 on Monday. The stock has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a P/E/G ratio of 2.37 and a beta of 1.02. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business has a 50 day simple moving average of $230.09 and a two-hundred day simple moving average of $190.49. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during 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 company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group upped their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley reduced their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Rosenblatt Securities restated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Benchmark restated a “buy” rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.