Roberts Glore & Co. Inc. IL Reduces Position in Broadcom Inc. (NASDAQ:AVGO)

Roberts Glore & Co. Inc. IL lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 6,208 shares of the semiconductor manufacturer’s stock after selling 84 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in Broadcom were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of AVGO. State Street Corp boosted its stake in shares of 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 acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC raised 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 valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC raised its position in shares of Broadcom by 1,121.3% during 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 during the period. 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 valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Broadcom by 975.4% during 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 purchasing an additional 30,674,902 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday. Finally, Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Broadcom stock opened at $194.96 on Friday. The company’s 50-day moving average price is $222.28 and its 200-day moving average price is $192.93. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market cap of $913.85 billion, a PE ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

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.