Broadcom Inc. (NASDAQ:AVGO) is Xponance Inc.’s 9th Largest Position

Xponance Inc. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.5% in the fourth quarter, HoldingsChannel reports. The fund owned 100,300 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,864 shares during the quarter. Broadcom makes up 1.3% of Xponance Inc.’s portfolio, making the stock its 9th largest position. Xponance Inc.’s holdings in Broadcom were worth $111,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. RMR Wealth Builders increased its stake in Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after purchasing an additional 388 shares in the last quarter. Czech National Bank increased its stake in shares of Broadcom by 46.1% in the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after acquiring an additional 22,774 shares during the period. Alpha Omega Wealth Management LLC increased its stake in shares of Broadcom by 66.6% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after acquiring an additional 1,704 shares during the period. CI Investments Inc. increased its stake in shares of Broadcom by 89.4% in the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after acquiring an additional 64,912 shares during the period. Finally, NatWest Group plc increased its stake in shares of Broadcom by 8.2% in the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock worth $9,263,000 after acquiring an additional 631 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Benchmark restated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Susquehanna increased their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday. They set an “outperform” rating and a $1,620.00 target price on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Price Performance

NASDAQ AVGO traded down $23.64 during trading hours on Thursday, reaching $1,258.99. The company’s stock had a trading volume of 2,410,107 shares, compared to its average volume of 2,938,406. The stock has a market cap of $583.44 billion, a PE ratio of 46.86, a PEG ratio of 2.71 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company’s 50-day moving average is $1,307.00 and its two-hundred day moving average is $1,115.19. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.67%. Broadcom’s payout ratio is currently 77.84%.

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.