Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by LexAurum Advisors LLC

LexAurum Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,010 shares of the semiconductor manufacturer’s stock after purchasing an additional 685 shares during the period. LexAurum Advisors LLC’s holdings in Broadcom were worth $1,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position 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 last quarter. Geode Capital Management LLC lifted 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 valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC lifted 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 valued at $15,594,088,000 after acquiring an additional 82,998,328 shares during the last quarter. Jennison Associates LLC lifted 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 valued at $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 valued at $5,833,894,000 after acquiring an additional 30,674,902 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Morgan Stanley upped their target price on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Robert W. Baird upped their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Price Performance

Broadcom stock opened at $244.70 on Monday. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The firm has a fifty day moving average of $208.80 and a 200-day moving average of $180.62. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. 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 released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 11.43% and a return on equity of 28.00%. The business’s revenue was up 51.2% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. 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 191.87%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. 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. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.