E Fund Management Co. Ltd. Boosts Position in Broadcom Inc. (NASDAQ:AVGO)

E Fund Management Co. Ltd. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 8.8% in the fourth quarter, HoldingsChannel reports. The firm owned 8,447 shares of the semiconductor manufacturer’s stock after buying an additional 683 shares during the period. Broadcom makes up about 0.6% of E Fund Management Co. Ltd.’s portfolio, making the stock its 20th biggest holding. E Fund Management Co. Ltd.’s holdings in Broadcom were worth $9,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom during the fourth quarter worth approximately $25,000. PSI Advisors LLC grew its stake in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth approximately $29,000. CKW Financial Group purchased a new position in shares of Broadcom during the fourth quarter worth approximately $30,000. Finally, Bfsg LLC purchased a new stake in Broadcom in the 4th quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on AVGO. Susquehanna lifted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, UBS Group upped their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 1.5 %

Shares of NASDAQ AVGO traded down $19.70 on Thursday, hitting $1,305.67. The company had a trading volume of 1,211,208 shares, compared to its average volume of 2,837,034. The firm has a market capitalization of $605.07 billion, a P/E ratio of 48.58, a PEG ratio of 2.60 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12-month low of $617.99 and a 12-month high of $1,438.17. The business has a 50 day moving average of $1,308.82 and a two-hundred day moving average of $1,157.75.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the firm posted $9.83 earnings per share. As a group, equities research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

About Broadcom

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.