Unified Investment Management Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

Unified Investment Management purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,220 shares of the semiconductor manufacturer’s stock, valued at approximately $747,000.

Other large investors also recently made changes to their positions in the company. State Street Corp increased its holdings in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its holdings in Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after buying an additional 89,975,941 shares during the last quarter. FMR LLC increased its holdings in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC increased its holdings in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadcom by 975.4% in the third 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. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Mizuho lifted their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Morgan Stanley reduced their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 6.0 %

Shares of AVGO opened at $187.37 on Tuesday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a market capitalization of $878.27 billion, a PE ratio of 152.83, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The stock has a fifty day simple moving average of $226.54 and a two-hundred day simple moving average of $192.50. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

About Broadcom

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.