Zurcher Kantonalbank Zurich Cantonalbank Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,068,303 shares of the semiconductor manufacturer’s stock after selling 1,009 shares during the period. Broadcom accounts for about 2.0% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 8th largest position. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Broadcom worth $711,355,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. KFA Private Wealth Group LLC boosted its position in shares of Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA lifted its stake 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 purchasing an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC raised its holdings in shares of Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 45 shares during the period. Marest Capital LLC lifted its stake in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after acquiring an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC boosted its holdings in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday. Three equities research 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 a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Up 8.6 %

AVGO opened at $194.96 on Monday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $913.85 billion, a P/E ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The business’s 50-day simple moving average is $222.28 and its 200-day simple moving average is $193.12.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 191.87%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

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.