PFG Advisors Increases Stake in Broadcom Inc. to $8.64 Million

PFG Advisors has announced a 23.4% increase in its holdings of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the firm's latest Form 13F filing with the Securities & Exchange Commission. After acquiring an additional 7,061 shares in the quarter, PFG Advisors now owns a total of 37,261 shares of the semiconductor manufacturer's stock, which is valued at approximately $8,639,000.

AI Outlook for Broadcom

Recently, several other institutional investors and hedge funds have also adjusted their positions in AVGO. For example, State Street Corp significantly increased its stake by 948.5% in the third quarter, accumulating 184,434,213 shares valued at $31,814,902,000 after acquiring 166,844,263 shares. Similarly, Geode Capital Management LLC raised its stake by 976.6%, now owning 99,188,826 shares worth $17,055,760,000 following an acquisition of 89,975,941 shares.

FMR LLC increased its holdings by 1,121.3% in the same period, now owning 90,400,508 shares valued at $15,594,088,000 after buying an additional 82,998,328 shares. Jennison Associates LLC expanded its stake by 842.4% with a total of 35,998,595 shares worth $6,209,758,000 after acquiring 32,178,542 shares during the period. Furthermore, UBS Asset Management Americas LLC's distinct business unit grew its stake by 975.4%, owning 33,819,675 shares valued at $5,833,894,000 after acquiring 30,674,902 shares. Overall, institutional investors now control 76.43% of Broadcom's stock.

Current Trading Status of Broadcom

As of the last trading session, shares of NASDAQ: AVGO opened at $190.09. The company's 50-day and 200-day simple moving averages are $220.42 and $193.44 respectively. Broadcom has recorded a fifty-two week low of $119.76 and a high of $251.88. With a market capitalization of $893.79 billion, the company maintains a P/E ratio of 155.05 and a P/E/G ratio of 2.29, with a beta of 1.01. Broadcom's debt-to-equity ratio is at 0.98, while its current ratio and quick ratio stand at 1.17 and 1.07, respectively.

Recent Earnings and Dividend Announcements

Broadcom reported its quarterly earnings on December 12th, revealing earnings per share of $1.42, exceeding analysts' consensus estimate of $1.39 by $0.03. Revenue for the quarter reached $14.05 billion, compared to expectations of $14.07 billion. The business's net margin was 11.43%, with a return on equity of 28.00%. Year over year, Broadcom's revenue increased by 51.2%, up from $0.98 EPS in the previous year. Analysts forecast an average of 5.38 EPS for Broadcom for the current year.

The company also announced a quarterly dividend of $0.59, to be paid on March 31st, with shareholders of record on March 20th. This dividend translates to an annualized total of $2.36, providing a yield of 1.24%. Notably, Broadcom's dividend payout ratio is currently at 113.46%.

Insider Trading Activity

In recent insider news, Director Eddy W. Hartenstein sold 4,000 shares on January 8th, at an average price of $229.64, totaling $918,560. After the sale, they now own 46,400 shares valued at around $10,655,296. The transaction indicated a 7.94% decrease in their holding. Additionally, CEO Hock E. Tan sold 45,000 shares on December 24th for an average price of $239.96, amounting to $10,798,200. Tan now owns 842,836 shares valued at approximately $202,246,926.56, representing a 5.07% decrease in ownership. Over the last three months, insiders have sold 191,278 shares worth $44,964,800, and company insiders currently hold 2.00% of the company's stock.

Analyst Ratings and Price Targets

Wall Street analysts have also expressed their views on Broadcom recently. Barclays raised its target price from $205 to $260 and issued an