Kera Capital Partners Inc. Sells 4,860 Shares of Broadcom Inc. $AVGO

Kera Capital Partners Inc. lowered its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,229 shares of the semiconductor manufacturer’s stock after selling 4,860 shares during the period. Broadcom accounts for 1.0% of Kera Capital Partners Inc.’s holdings, making the stock its 27th largest holding. Kera Capital Partners Inc.’s holdings in Broadcom were worth $8,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. State Street Corp increased its holdings in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC increased its holdings in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after purchasing an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Broadcom by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares during the last quarter. Finally, Norges Bank bought a new position in Broadcom in the fourth quarter valued at about $24,252,196,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $411.35 on Friday. The firm’s fifty day moving average is $411.42 and its 200-day moving average is $363.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The firm has a market cap of $1.96 trillion, a P/E ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 earnings per share. Equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 2,018 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director directly owned 18,164 shares of the company’s stock, valued at $6,411,892. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 59,385 shares of company stock worth $21,301,057. Corporate insiders own 1.90% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AVGO shares. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Truist Financial lifted their target price on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Bank of America upped their price target on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $490.13.

View Our Latest Stock Report on AVGO

Broadcom Company Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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