Broadcom Inc. $AVGO Shares Purchased by Dakota Wealth Management

Dakota Wealth Management boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 147,361 shares of the semiconductor manufacturer’s stock after purchasing an additional 32,473 shares during the period. Broadcom makes up 0.9% of Dakota Wealth Management’s investment portfolio, making the stock its 18th largest holding. Dakota Wealth Management’s holdings in Broadcom were worth $51,002,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AVGO. Arrowstreet Capital Limited Partnership grew its holdings in shares of Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Nordea Investment Management AB increased its position in Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock valued at $3,406,211,000 after acquiring an additional 3,160,586 shares during the period. Danske Bank A S purchased a new stake in Broadcom during the 3rd quarter valued at approximately $987,488,000. Invesco Ltd. lifted its position in Broadcom by 8.4% during the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after acquiring an additional 2,978,768 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Broadcom by 41.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,520,644 shares of the semiconductor manufacturer’s stock worth $2,811,046,000 after acquiring an additional 2,503,304 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider S. Ram Velaga sold 38,841 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares in the company, valued at $30,920,875.20. This trade represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares of the company’s stock, valued at $89,450,145.60. This trade represents a 15.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 403,049 shares of company stock valued at $133,459,315 in the last three months. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVGO. Bank of America dropped their target price on Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Oppenheimer lifted their price objective on shares of Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Piper Sandler reissued an “overweight” rating and issued a $430.00 price objective (up from $375.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadcom in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $435.30.

Broadcom Trading Down 2.4%

Shares of Broadcom stock opened at $293.41 on Tuesday. The company has a 50-day moving average of $325.83 and a two-hundred day moving average of $344.28. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.39 trillion, a PE ratio of 57.31, a price-to-earnings-growth ratio of 0.64 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.60 EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, March 23rd. Broadcom’s payout ratio is presently 50.78%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.