Broadcom Inc. (NASDAQ:AVGO) is GAM Holding AG’s 9th Largest Position

GAM Holding AG lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 74.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 125,850 shares of the semiconductor manufacturer’s stock after acquiring an additional 53,843 shares during the period. Broadcom accounts for approximately 2.2% of GAM Holding AG’s holdings, making the stock its 9th biggest holding. GAM Holding AG’s holdings in Broadcom were worth $29,177,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its holdings in shares of Broadcom by 12.6% during the fourth quarter. Venturi Wealth Management LLC now owns 136,658 shares of the semiconductor manufacturer’s stock valued at $31,683,000 after buying an additional 15,309 shares during the last quarter. Citizens & Northern Corp purchased a new position in Broadcom in the 4th quarter worth $278,000. Empower Advisory Group LLC lifted its position in Broadcom by 40.3% during the 4th quarter. Empower Advisory Group LLC now owns 341,753 shares of the semiconductor manufacturer’s stock worth $79,232,000 after acquiring an additional 98,096 shares during the period. Truist Financial Corp grew its stake in Broadcom by 0.7% during the 4th quarter. Truist Financial Corp now owns 2,915,323 shares of the semiconductor manufacturer’s stock valued at $675,889,000 after purchasing an additional 20,986 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Broadcom by 3.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 64,235 shares of the semiconductor manufacturer’s stock valued at $14,892,000 after purchasing an additional 2,335 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AVGO shares. TD Cowen lifted their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $226.89 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $1.06 trillion, a PE ratio of 185.06, a PEG ratio of 2.39 and a beta of 1.02. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The firm has a fifty day moving average of $230.21 and a 200 day moving average of $189.26.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.