Teachers Insurance & Annuity Association of America acquired a new stake in shares of Broadcom Limited (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 1,598 shares of the semiconductor manufacturer’s stock, valued at approximately $410,000.
Several other hedge funds also recently bought and sold shares of AVGO. HPM Partners LLC raised its holdings in shares of Broadcom by 8.2% during the 4th quarter. HPM Partners LLC now owns 8,509 shares of the semiconductor manufacturer’s stock worth $2,186,000 after acquiring an additional 643 shares in the last quarter. Viking Global Investors LP raised its holdings in shares of Broadcom by 14.4% during the 4th quarter. Viking Global Investors LP now owns 2,466,836 shares of the semiconductor manufacturer’s stock worth $633,730,000 after acquiring an additional 310,906 shares in the last quarter. Kendall Capital Management purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $625,000. Guggenheim Capital LLC raised its holdings in shares of Broadcom by 1.2% during the 4th quarter. Guggenheim Capital LLC now owns 558,221 shares of the semiconductor manufacturer’s stock worth $143,408,000 after acquiring an additional 6,363 shares in the last quarter. Finally, QS Investors LLC raised its holdings in shares of Broadcom by 28.4% during the 4th quarter. QS Investors LLC now owns 51,624 shares of the semiconductor manufacturer’s stock worth $13,262,000 after acquiring an additional 11,408 shares in the last quarter. 89.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AVGO stock opened at $228.87 on Friday. The company has a current ratio of 5.70, a quick ratio of 5.04 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $97,064.80, a PE ratio of 14.84, a PEG ratio of 1.07 and a beta of 0.92. Broadcom Limited has a fifty-two week low of $208.44 and a fifty-two week high of $285.68.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 15th. The semiconductor manufacturer reported $5.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.41 by $0.71. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.32 billion. Broadcom had a return on equity of 29.50% and a net margin of 41.37%. The company’s revenue was up 28.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.63 earnings per share. research analysts anticipate that Broadcom Limited will post 17.43 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 22nd were issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.06%. This is a positive change from Broadcom’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, March 21st. Broadcom’s dividend payout ratio (DPR) is 48.95%.
In related news, insider Kirsten M. Spears sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $249.86, for a total transaction of $1,249,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 997 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $243.88, for a total value of $243,148.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,675 shares of company stock worth $25,376,429. 3.30% of the stock is owned by corporate insiders.
AVGO has been the topic of several recent research reports. Vetr cut Broadcom from a “strong-buy” rating to a “buy” rating and set a $295.91 price objective on the stock. in a report on Monday, December 18th. Oppenheimer reissued a “buy” rating on shares of Broadcom in a research report on Friday, December 15th. Mizuho reissued a “buy” rating and set a $310.00 target price on shares of Broadcom in a research report on Thursday, December 14th. Nomura boosted their target price on Broadcom to $330.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Finally, DA Davidson boosted their target price on Broadcom to $325.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Five equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. Broadcom currently has a consensus rating of “Buy” and a consensus price target of $313.89.
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Broadcom Limited designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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