V Square Quantitative Management LLC Buys 1,813 Shares of Broadcom Inc. (NASDAQ:AVGO)

V Square Quantitative Management LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 154.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,990 shares of the semiconductor manufacturer’s stock after buying an additional 1,813 shares during the period. Broadcom accounts for approximately 0.7% of V Square Quantitative Management LLC’s portfolio, making the stock its 20th largest holding. V Square Quantitative Management LLC’s holdings in Broadcom were worth $3,963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Broadcom in the fourth quarter worth about $6,225,987,000. International Assets Investment Management LLC increased its stake 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 worth $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Wellington Management Group LLP lifted its position in Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after purchasing an additional 1,228,755 shares during the last quarter. Capital International Investors lifted its position in Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock valued at $26,044,294,000 after purchasing an additional 1,006,223 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Broadcom during the third quarter valued at approximately $560,563,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AVGO shares. Jefferies Financial Group initiated coverage on shares of Broadcom in a research report on Monday, May 13th. They issued a “buy” rating and a $1,550.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Susquehanna boosted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Finally, Benchmark restated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $1,296.91.

Read Our Latest Stock Report on AVGO

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $14.83 during trading on Tuesday, reaching $1,399.20. 1,532,374 shares of the company traded hands, compared to its average volume of 2,785,168. The firm has a 50 day simple moving average of $1,315.89 and a 200-day simple moving average of $1,194.30. Broadcom Inc. has a 52-week low of $674.12 and a 52-week high of $1,445.40. The stock has a market capitalization of $648.42 billion, a PE ratio of 51.86, a P/E/G ratio of 2.83 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.83 EPS. Equities research analysts anticipate that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.50%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Activity

In other news, insider Mark David Brazeal sold 2,500 shares of Broadcom 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 transaction, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred 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 transaction, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last quarter. 2.00% of the stock is currently owned by insiders.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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