Candriam S.C.A. Has $262.34 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Candriam S.C.A. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,131,537 shares of the semiconductor manufacturer’s stock after buying an additional 17,154 shares during the quarter. Broadcom accounts for about 1.5% of Candriam S.C.A.’s holdings, making the stock its 8th biggest holding. Candriam S.C.A.’s holdings in Broadcom were worth $262,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. Blue Barn Wealth LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $313,000. Bellevue Asset Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. Ethos Financial Group LLC lifted its holdings in shares of Broadcom by 49.3% in the fourth quarter. Ethos Financial Group LLC now owns 5,712 shares of the semiconductor manufacturer’s stock valued at $1,324,000 after purchasing an additional 1,885 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Broadcom by 0.8% during the fourth quarter. Lindbrook Capital LLC now owns 69,815 shares of the semiconductor manufacturer’s stock worth $16,186,000 after acquiring an additional 550 shares during the period. Finally, Carmel Capital Partners LLC purchased a new position in shares of Broadcom in the fourth quarter valued at $264,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of the company’s 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 of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.2 %

Shares of NASDAQ:AVGO opened at $191.58 on Thursday. The company has a market cap of $898.00 billion, a price-to-earnings ratio of 156.27, a PEG ratio of 2.29 and a beta of 1.01. The firm’s 50-day simple moving average is $224.53 and its 200-day simple moving average is $192.64. 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 Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

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 company had revenue of $14.05 billion for 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 company’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, equities research analysts predict 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. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom’s dividend payout ratio is 191.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Jefferies Financial Group upped their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Piper Sandler upped their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom 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.