Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Michael S. Ryan Inc.

Michael S. Ryan Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,959 shares of the semiconductor manufacturer’s stock after buying an additional 61 shares during the period. Broadcom comprises 1.4% of Michael S. Ryan Inc.’s investment portfolio, making the stock its 18th largest holding. Michael S. Ryan Inc.’s holdings in Broadcom were worth $2,077,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. State Street Corp increased 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 buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC boosted its position 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 acquiring an additional 89,975,941 shares in the last quarter. FMR LLC increased its holdings in shares of 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 acquiring an additional 82,998,328 shares during the last quarter. Jennison Associates LLC raised its position in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Broadcom stock traded up $0.67 during mid-day trading on Wednesday, reaching $229.31. The company had a trading volume of 18,430,239 shares, compared to its average volume of 26,920,354. The stock’s 50-day simple moving average is $193.55 and its 200-day simple moving average is $174.58. Broadcom Inc. has a 1 year low of $106.26 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $1.07 trillion, a P/E ratio of 199.23, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. On average, equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current 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 given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 191.87%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,228 shares of company stock valued at $35,643,408 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVGO. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays upped their target price on Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

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.