Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Fiera Capital Corp

Fiera Capital Corp grew its position in Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 12,084 shares of the semiconductor manufacturer’s stock after buying an additional 137 shares during the period. Fiera Capital Corp’s holdings in Broadcom were worth $2,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares in the last quarter. Northern Trust Corp grew its position in Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock valued at $11,380,411,000 after buying an additional 5,258,925 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock valued at $11,018,089,000 after buying an additional 15,171,849 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Broadcom by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer’s stock worth $7,975,616,000 after buying an additional 581,704 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 40,000 shares of the company’s stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares of the company’s stock, valued at approximately $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 830,516 shares of company stock worth $217,224,641. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $302.62 on Thursday. The company’s fifty day moving average is $264.10 and its two-hundred day moving average is $223.64. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $303.26. The company has a market cap of $1.42 trillion, a P/E ratio of 113.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.12.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the previous year, the business earned $10.96 EPS. The company’s revenue was up 20.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its board has authorized a share buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is currently 88.39%.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. HSBC raised Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Tuesday, June 24th. Benchmark upped their target price on Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. JPMorgan Chase & Co. upped their target price on Broadcom from $250.00 to $325.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Finally, Wells Fargo & Company upped their target price on Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $294.92.

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.