Aspire Private Capital LLC Buys 2,474 Shares of Broadcom Inc. (NASDAQ:AVGO)

Aspire Private Capital LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,362 shares of the semiconductor manufacturer’s stock after buying an additional 2,474 shares during the period. Aspire Private Capital LLC’s holdings in Broadcom were worth $2,866,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised its holdings in Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the period. FMR LLC lifted its holdings in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC boosted its position in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after acquiring an additional 30,674,902 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Piper Sandler lifted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Susquehanna increased their target price 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. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.83.

Insiders Place Their Bets

In other news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.3 %

AVGO opened at $240.28 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company’s 50-day moving average is $205.81 and its 200 day moving average is $179.64. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 195.99, a PEG ratio of 2.51 and a beta of 1.03.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.98%. Broadcom’s payout ratio is currently 192.50%.

Broadcom 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.