8,836 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP bought a new position in Broadcom Inc. (NASDAQ:AVGOFree Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,836 shares of the semiconductor manufacturer’s stock, valued at approximately $7,339,000.

Several other large investors have also made changes to their positions in the company. Greenwood Gearhart Inc. grew its position in Broadcom by 2.0% during the 3rd quarter. Greenwood Gearhart Inc. now owns 549 shares of the semiconductor manufacturer’s stock worth $456,000 after purchasing an additional 11 shares in the last quarter. WBH Advisory Inc. grew its position in Broadcom by 3.0% during the 3rd quarter. WBH Advisory Inc. now owns 412 shares of the semiconductor manufacturer’s stock worth $342,000 after purchasing an additional 12 shares in the last quarter. Benchmark Financial Wealth Advisors LLC grew its position in Broadcom by 3.7% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 340 shares of the semiconductor manufacturer’s stock worth $282,000 after purchasing an additional 12 shares in the last quarter. Kingdom Financial Group LLC. grew its position in Broadcom by 4.7% during the 3rd quarter. Kingdom Financial Group LLC. now owns 265 shares of the semiconductor manufacturer’s stock worth $220,000 after purchasing an additional 12 shares in the last quarter. Finally, MCF Advisors LLC grew its position in Broadcom by 0.9% during the 3rd quarter. MCF Advisors LLC now owns 1,336 shares of the semiconductor manufacturer’s stock worth $1,110,000 after purchasing an additional 12 shares in the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $1,122.46, for a total value of $22,449,200.00. Following the completion of the sale, the chief executive officer now owns 209,796 shares in the company, valued at approximately $235,487,618.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $1,122.46, for a total value of $22,449,200.00. Following the transaction, the chief executive officer now owns 209,796 shares of the company’s stock, valued at approximately $235,487,618.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,300 shares of company stock worth $25,969,290. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a report on Friday, December 8th. Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Mizuho upped their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Susquehanna upped their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $1,154.45.

Get Our Latest Stock Report on AVGO

Broadcom Stock Performance

Broadcom stock opened at $1,257.87 on Thursday. The stock has a 50-day simple moving average of $1,230.21 and a 200 day simple moving average of $1,034.02. The stock has a market capitalization of $582.92 billion, a price-to-earnings ratio of 46.62, a P/E/G ratio of 2.40 and a beta of 1.26. 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 $601.29 and a 12-month high of $1,438.17.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the company posted $9.83 EPS. On average, research analysts anticipate that Broadcom Inc. will post 41.79 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be given a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s payout ratio is presently 77.84%.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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