IPG Investment Advisors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 65.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 530 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the period. IPG Investment Advisors LLC’s holdings in Broadcom were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Investment Research & Advisory Group Inc. bought a new position in shares of Broadcom during the 4th quarter valued at about $25,000. TFO TDC LLC purchased a new stake in Broadcom during the fourth quarter valued at about $25,000. Blue Bell Private Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $25,000. Focused Wealth Management Inc lifted its stake in Broadcom by 101.0% during the fourth quarter. Focused Wealth Management Inc now owns 40 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 4,000 shares in the last quarter. Finally, West Bancorporation Inc. purchased a new stake in Broadcom during the fourth quarter valued at about $29,000. Institutional investors own 81.53% of the company’s stock.
A number of analysts have recently issued reports on AVGO shares. Mizuho increased their price target on shares of Broadcom from $700.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 13th. Zacks Investment Research lowered shares of Broadcom from a “buy” rating to a “hold” rating and set a $599.00 price target for the company. in a research report on Tuesday, March 8th. Piper Sandler reissued a “buy” rating and issued a $750.00 price target on shares of Broadcom in a research report on Tuesday, May 24th. Finally, Susquehanna Bancshares reissued a “buy” rating and issued a $680.00 price target on shares of Broadcom in a research report on Tuesday, March 1st. Five analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Buy” and a consensus target price of $675.92.
Shares of Broadcom stock opened at $583.28 on Friday. The company’s fifty day simple moving average is $586.76 and its 200-day simple moving average is $591.50. The company has a market cap of $238.14 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.17 and a beta of 1.04. The company has a current ratio of 2.44, a quick ratio of 2.20 and a debt-to-equity ratio of 1.71. Broadcom Inc. has a 1 year low of $455.71 and a 1 year high of $677.76.
Broadcom (NASDAQ:AVGO – Get Rating) last announced its quarterly earnings data on Thursday, May 26th. The semiconductor manufacturer reported $9.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.88 by $1.19. The business had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $7.91 billion. Broadcom had a net margin of 29.76% and a return on equity of 54.47%. Broadcom’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company posted $5.89 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 32.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 22nd will be paid a $4.10 dividend. The ex-dividend date is Tuesday, June 21st. This represents a $16.40 annualized dividend and a dividend yield of 2.81%. Broadcom’s payout ratio is 81.31%.
About Broadcom (Get Rating)
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.
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