Federated Hermes Inc. Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Federated Hermes Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 42.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 144,757 shares of the semiconductor manufacturer’s stock after buying an additional 43,210 shares during the quarter. Federated Hermes Inc.’s holdings in Broadcom were worth $161,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Macroview Investment Management LLC purchased a new stake in Broadcom in the third quarter valued at about $29,000. BKM Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter valued at about $29,000. CKW Financial Group purchased a new stake in Broadcom in the fourth quarter valued at about $30,000. VitalStone Financial LLC raised its stake in Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 25 shares during the last quarter. Finally, Rise Advisors LLC raised its stake in Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVGO. Barclays increased their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday. Susquehanna increased their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Evercore ISI began coverage on Broadcom in a report on Tuesday. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Price Performance

AVGO traded up $1.97 during trading on Thursday, hitting $1,284.60. The company’s stock had a trading volume of 785,217 shares, compared to its average volume of 2,925,260. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The business’s fifty day simple moving average is $1,307.00 and its 200 day simple moving average is $1,115.19. The firm has a market capitalization of $595.31 billion, a price-to-earnings ratio of 47.70, a P/E/G ratio of 2.71 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.63%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Broadcom Company Profile

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.