Fiera Capital Corp Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Fiera Capital Corp lifted its holdings in Broadcom Inc. (NASDAQ:AVGOGet Rating) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,035 shares of the semiconductor manufacturer’s stock after purchasing an additional 198 shares during the period. Fiera Capital Corp’s holdings in Broadcom were worth $2,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Oxbow Advisors LLC lifted its stake in shares of Broadcom by 4.1% in the third quarter. Oxbow Advisors LLC now owns 2,338 shares of the semiconductor manufacturer’s stock worth $1,038,000 after buying an additional 93 shares in the last quarter. Astoria Portfolio Advisors LLC. acquired a new position in shares of Broadcom in the third quarter valued at approximately $299,000. Strengthening Families & Communities LLC lifted its position in shares of Broadcom by 8.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 743 shares of the semiconductor manufacturer’s stock worth $330,000 after buying an additional 55 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its position in shares of Broadcom by 7.5% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 30,884 shares of the semiconductor manufacturer’s stock worth $13,713,000 after buying an additional 2,150 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its position in Broadcom by 6.0% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,490 shares of the semiconductor manufacturer’s stock valued at $661,000 after purchasing an additional 85 shares during the last quarter. 81.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. Cowen increased their price objective on shares of Broadcom from $540.00 to $555.00 and gave the stock a “market perform” rating in a report on Friday, December 9th. UBS Group cut their price objective on shares of Broadcom from $690.00 to $675.00 in a research note on Friday, December 9th. Bank of America lifted their target price on Broadcom from $625.00 to $650.00 in a report on Friday, December 9th. Susquehanna Bancshares lowered their target price on Broadcom from $680.00 to $650.00 and set a “positive” rating on the stock in a report on Monday, December 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $720.00 target price on shares of Broadcom in a report on Monday, December 5th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $667.37.

Broadcom Trading Up 1.3 %

Shares of AVGO opened at $570.78 on Monday. Broadcom Inc. has a 1-year low of $415.07 and a 1-year high of $645.31. The stock has a market capitalization of $238.52 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.19 and a beta of 1.08. The company has a current ratio of 2.62, a quick ratio of 2.35 and a debt-to-equity ratio of 1.72. The business’s 50-day moving average price is $549.52 and its 200 day moving average price is $514.14.

Broadcom (NASDAQ:AVGOGet Rating) last announced its quarterly earnings data on Thursday, December 8th. The semiconductor manufacturer reported $9.75 EPS for the quarter, topping analysts’ consensus estimates of $9.50 by $0.25. Broadcom had a return on equity of 70.00% and a net margin of 34.62%. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the company posted $7.01 EPS. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 37.39 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Tuesday, December 20th were given a dividend of $4.60 per share. The ex-dividend date of this dividend was Monday, December 19th. This is a positive change from Broadcom’s previous quarterly dividend of $4.10. This represents a $18.40 dividend on an annualized basis and a yield of 3.22%. Broadcom’s dividend payout ratio (DPR) is presently 69.43%.

Insiders Place Their Bets

In other news, Director Justine Page sold 170 shares of Broadcom stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $574.86, for a total transaction of $97,726.20. Following the completion of the sale, the director now directly owns 2,981 shares in the company, valued at approximately $1,713,657.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

Broadcom Profile

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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