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

Federated Hermes Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 42.6% during the fourth quarter, HoldingsChannel reports. The firm owned 144,757 shares of the semiconductor manufacturer’s stock after purchasing 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 quarter.

Other large investors have also made changes to their positions in the company. Macroview Investment Management LLC acquired a new stake in Broadcom in the 3rd quarter valued at $29,000. BKM Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter valued at $29,000. CKW Financial Group acquired a new position in shares of Broadcom in the 4th quarter worth approximately $30,000. VitalStone Financial LLC lifted its stake in Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 25 shares during the last quarter. Finally, Rise Advisors LLC lifted its stake in Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.2 %

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

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company earned $9.83 EPS. Sell-side analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AVGO shares. Mizuho raised their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.