Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 33.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 210,115 shares of the semiconductor manufacturer’s stock after buying an additional 52,700 shares during the period. Broadcom accounts for about 2.4% of E Fund Management Co. Ltd.’s investment portfolio, making the stock its 8th biggest holding. E Fund Management Co. Ltd.’s holdings in Broadcom were worth $48,713,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Pin Oak Investment Advisors Inc. grew its holdings in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Canton Hathaway LLC bought a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its holdings in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Bellevue Asset Management LLC purchased a new stake in Broadcom in the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom in the fourth quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of Broadcom 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 completion of the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AVGO shares. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Citigroup upped their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three 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, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

Shares of Broadcom stock opened at $191.58 on Thursday. The company has a 50 day moving average of $224.53 and a 200-day moving average of $192.64. Broadcom Inc. has a 1-year low of $119.76 and a 1-year 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 $898.00 billion, a PE ratio of 156.27, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. 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 191.87%.

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.