Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Krilogy Financial LLC

Krilogy Financial LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,517 shares of the semiconductor manufacturer’s stock after buying an additional 383 shares during the quarter. Krilogy Financial LLC’s holdings in Broadcom were worth $3,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its holdings in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. FMR LLC increased its holdings in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its position in Broadcom by 842.4% in the 3rd 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 boosted its position in Broadcom by 975.4% in the 3rd 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 last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. TD Cowen increased their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Robert W. Baird increased their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Barclays raised their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Up 3.5 %

Shares of NASDAQ:AVGO opened at $237.44 on Monday. Broadcom Inc. has a 52 week low of $112.19 and a 52 week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. The company has a 50 day moving average price of $202.01 and a two-hundred day moving average price of $178.14.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 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 the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last quarter. 2.00% of the stock is currently owned by company insiders.

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.