Perissos Private Wealth Management LLC Acquires Shares of 936 Broadcom Inc. (NASDAQ:AVGO)

Perissos Private Wealth Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 936 shares of the semiconductor manufacturer’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp grew its holdings in Broadcom by 948.5% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. FMR LLC grew its stake in Broadcom by 1,121.3% during the third 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 in the last quarter. Jennison Associates LLC increased its holdings in 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AVGO shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Bank of America lifted their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Price Performance

AVGO stock opened at $233.04 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a 50-day moving average of $225.09 and a 200 day moving average of $186.45. The company has a market cap of $1.09 trillion, a P/E ratio of 190.08, a PEG ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 51.2% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.01%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s 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 sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. 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. Insiders own 2.00% of the company’s stock.

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.