Xponance Inc. Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Xponance Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,300 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,864 shares during the period. Broadcom comprises approximately 1.3% of Xponance Inc.’s investment portfolio, making the stock its 9th largest holding. Xponance Inc.’s holdings in Broadcom were worth $111,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. AIA Group Ltd grew its position in shares of Broadcom by 5.2% in the fourth quarter. AIA Group Ltd now owns 18,064 shares of the semiconductor manufacturer’s stock valued at $20,164,000 after purchasing an additional 897 shares during the last quarter. Integral Investment Advisors Inc. acquired a new stake in Broadcom during the fourth quarter worth approximately $205,000. Tilt Investment Management Holdings PBC acquired a new stake in Broadcom during the fourth quarter worth approximately $2,024,000. Cambridge Trust Co. grew its position in Broadcom by 0.6% during the fourth quarter. Cambridge Trust Co. now owns 42,460 shares of the semiconductor manufacturer’s stock worth $47,396,000 after buying an additional 261 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its position in Broadcom by 30.6% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 47 shares of the semiconductor manufacturer’s stock worth $52,000 after buying an additional 11 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AVGO. Cantor Fitzgerald raised their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Mizuho increased their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

Shares of AVGO traded down $23.64 during mid-day trading on Thursday, reaching $1,258.99. 2,410,107 shares of the stock traded hands, compared to its average volume of 2,938,406. The firm has a fifty day moving average price of $1,307.00 and a 200 day moving average price of $1,115.19. The company has a market cap of $583.44 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the business earned $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.67%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction 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 $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate 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.