Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 659,734 shares of the semiconductor manufacturer’s stock after buying an additional 98,292 shares during the quarter. Broadcom accounts for about 0.7% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 29th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Broadcom were worth $152,953,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. KFA Private Wealth Group LLC boosted its holdings in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after acquiring an additional 42 shares during the period. Dakota Community Bank & Trust NA boosted its holdings in Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC raised its stake in shares of Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares during the last quarter. Marest Capital LLC grew its holdings in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after buying an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC lifted its stake in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after buying an additional 47 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 3.1 %

NASDAQ:AVGO opened at $190.09 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market cap of $893.79 billion, a PE ratio of 155.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock’s 50-day moving average is $220.42 and its two-hundred day moving average is $193.44. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is 113.46%.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Mizuho lowered their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Company 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.