Broadcom Inc (AVGO) Shares Bought by Polaris Greystone Financial Group LLC

Polaris Greystone Financial Group LLC increased its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 75.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,207 shares of the semiconductor manufacturer’s stock after buying an additional 2,238 shares during the quarter. Polaris Greystone Financial Group LLC’s holdings in Broadcom were worth $1,592,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. Vanguard Group Inc grew its position in shares of Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Broadcom by 26,295.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock valued at $47,000 after purchasing an additional 11,904,869 shares in the last quarter. FMR LLC grew its position in shares of Broadcom by 3.8% during the 4th quarter. FMR LLC now owns 10,192,760 shares of the semiconductor manufacturer’s stock valued at $2,591,815,000 after purchasing an additional 374,911 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Broadcom by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,111,832 shares of the semiconductor manufacturer’s stock valued at $1,297,609,000 after purchasing an additional 63,639 shares in the last quarter. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:AVGO traded up $0.43 during trading hours on Wednesday, hitting $318.93. The company’s stock had a trading volume of 29,821 shares, compared to its average volume of 2,427,131. Broadcom Inc has a 52 week low of $197.46 and a 52 week high of $320.01. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.27. The firm has a market cap of $126.08 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.48 and a beta of 0.68.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, beating the consensus estimate of $4.32 by $1.23. The business had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.12 EPS. On average, research analysts predict that Broadcom Inc will post 17.65 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $2.65 dividend. This represents a $10.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 56.29%.

Several research analysts recently issued reports on the stock. Mizuho upped their target price on shares of Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Deutsche Bank upped their target price on shares of Broadcom from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Wells Fargo & Co reiterated a “hold” rating on shares of Broadcom in a research report on Friday, March 15th. Craig Hallum upped their price target on shares of Broadcom from $305.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, BidaskClub upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirty-two have assigned a buy rating to the stock. Broadcom currently has an average rating of “Buy” and an average price target of $301.99.

In other news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $291.27, for a total value of $5,825,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 9,330 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $295.93, for a total transaction of $2,761,026.90. The disclosure for this sale can be found here. Insiders sold a total of 67,824 shares of company stock worth $20,089,519 over the last ninety days. Insiders own 3.30% of the company’s stock.

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About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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