TPG Financial Advisors LLC Buys New Stake in Broadcom Inc. (NASDAQ:AVGO)

TPG Financial Advisors LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 872 shares of the semiconductor manufacturer’s stock, valued at approximately $202,000.

Several other hedge funds also recently bought and sold shares of AVGO. State Street Corp increased its position in Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 976.6% during 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 purchasing an additional 89,975,941 shares during the last quarter. FMR LLC grew its holdings in shares of Broadcom by 1,121.3% during 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 raised its position in shares of 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 buying 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 stake in shares of Broadcom by 975.4% during 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 buying an additional 30,674,902 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price 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 lifted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial increased their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley lifted their price target on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $223.54.

Broadcom Trading Down 0.3 %

Shares of NASDAQ:AVGO opened at $224.70 on Wednesday. Broadcom Inc. has a twelve month low of $109.02 and a twelve month high of $251.88. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market cap of $1.05 trillion, a P/E ratio of 195.22, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a 50 day moving average of $199.05 and a 200-day moving average of $176.63.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company earned $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. As a group, analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 191.87%.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was 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 of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is owned by corporate insiders.

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.