Generate Investment Management Ltd Purchases 96,075 Shares of Broadcom Inc. $AVGO

Generate Investment Management Ltd boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 78.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 219,257 shares of the semiconductor manufacturer’s stock after acquiring an additional 96,075 shares during the period. Broadcom accounts for about 3.5% of Generate Investment Management Ltd’s holdings, making the stock its 8th biggest position. Generate Investment Management Ltd’s holdings in Broadcom were worth $75,885,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Enclave Advisors LLC increased its holdings in shares of Broadcom by 4.4% during the fourth quarter. Enclave Advisors LLC now owns 2,316 shares of the semiconductor manufacturer’s stock valued at $802,000 after acquiring an additional 98 shares in the last quarter. BWM Planning LLC raised its position in shares of Broadcom by 2.5% during the fourth quarter. BWM Planning LLC now owns 3,968 shares of the semiconductor manufacturer’s stock worth $1,373,000 after purchasing an additional 96 shares during the period. Net Worth Advisory Group lifted its holdings in shares of Broadcom by 17.7% in the 4th quarter. Net Worth Advisory Group now owns 6,060 shares of the semiconductor manufacturer’s stock worth $2,097,000 after purchasing an additional 911 shares in the last quarter. Team Financial Group LLC lifted its holdings in shares of Broadcom by 56.1% in the 4th quarter. Team Financial Group LLC now owns 345 shares of the semiconductor manufacturer’s stock worth $119,000 after purchasing an additional 124 shares in the last quarter. Finally, Dakota Wealth Management grew its position in Broadcom by 28.3% in the 4th quarter. Dakota Wealth Management now owns 147,361 shares of the semiconductor manufacturer’s stock valued at $51,002,000 after purchasing an additional 32,473 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In related news, CFO Kirsten M. Spears sold 36,292 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the sale, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at approximately $105,407,616. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 70,000 shares of Broadcom stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total value of $24,311,000.00. Following the sale, the chief executive officer owned 132,836 shares in the company, valued at $46,133,942.80. This trade represents a 34.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 403,049 shares of company stock worth $133,459,315. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on AVGO shares. DA Davidson upgraded shares of Broadcom to a “hold” rating in a research note on Friday, February 13th. Sanford C. Bernstein reiterated an “outperform” rating and set a $475.00 price objective (up from $400.00) on shares of Broadcom in a report on Friday, December 12th. Robert W. Baird set a $420.00 target price on shares of Broadcom in a research report on Friday, December 12th. Wolfe Research upgraded shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a report on Friday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $450.00 price target on shares of Broadcom in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.30.

Broadcom Stock Performance

NASDAQ AVGO opened at $293.41 on Tuesday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a market cap of $1.39 trillion, a price-to-earnings ratio of 57.31, a PEG ratio of 0.64 and a beta of 1.22. The company has a fifty day moving average price of $325.83 and a 200-day moving average price of $344.28.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period last year, the firm earned $1.60 earnings per share. The firm’s revenue was up 29.5% on a year-over-year basis. As a group, equities research analysts predict 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. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.

Broadcom Company 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.