River Global Investors LLP Acquires New Shares in Broadcom Inc. (NASDAQ:AVGO)

River Global Investors LLP acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 5,011 shares of the semiconductor manufacturer’s stock, valued at approximately $5,596,000. Broadcom makes up approximately 1.1% of River Global Investors LLP’s portfolio, making the stock its 19th biggest position.

A number of other hedge funds have also bought and sold shares of the business. Northern Trust Corp grew its stake in Broadcom by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after buying an additional 93,615 shares in the last quarter. Wellington Management Group LLP grew its stake in Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after buying an additional 1,228,755 shares in the last quarter. FMR LLC grew its stake in Broadcom by 16.7% in the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after buying an additional 573,826 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Broadcom by 113,495.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Finally, Invesco Ltd. boosted its holdings in Broadcom by 19.1% in the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after purchasing an additional 514,120 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Cantor Fitzgerald raised their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. UBS Group lifted their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Mizuho boosted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target for the company. Finally, TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Up 3.2 %

Shares of Broadcom stock traded up $39.54 during trading on Friday, hitting $1,278.11. The stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The firm’s fifty day simple moving average is $1,308.66 and its 200-day simple moving average is $1,147.78. The stock has a market cap of $592.30 billion, a PE ratio of 47.37, a PEG ratio of 2.52 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the firm posted $9.83 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 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.