Woodley Farra Manion Portfolio Management Inc. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,226 shares of the semiconductor manufacturer's stock after acquiring an additional 765 shares during the quarter. Broadcom comprises approximately 3.5% of Woodley Farra Manion Portfolio Management Inc.'s investment portfolio, making the stock its 11th largest holding. Woodley Farra Manion Portfolio Management Inc.'s holdings in Broadcom were worth $42,861,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC increased its stake in Broadcom by 45.9% during the first quarter. Blue Bell Private Wealth Management LLC now owns 54 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 17 shares during the last quarter. UNIVEST FINANCIAL Corp boosted its position in shares of Broadcom by 4.6% in the first quarter. UNIVEST FINANCIAL Corp now owns 387 shares of the semiconductor manufacturer's stock worth $244,000 after buying an additional 17 shares during the period. Connable Office Inc. boosted its position in shares of Broadcom by 3.9% in the fourth quarter. Connable Office Inc. now owns 478 shares of the semiconductor manufacturer's stock worth $318,000 after buying an additional 18 shares during the period. Cooper Financial Group boosted its position in shares of Broadcom by 1.8% in the first quarter. Cooper Financial Group now owns 1,004 shares of the semiconductor manufacturer's stock worth $632,000 after buying an additional 18 shares during the period. Finally, Newman Dignan & Sheerar Inc. boosted its position in shares of Broadcom by 0.7% in the first quarter. Newman Dignan & Sheerar Inc. now owns 2,761 shares of the semiconductor manufacturer's stock worth $1,738,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 79.60% of the company's stock.
Get Broadcom alerts:Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Bank of America decreased their target price on Broadcom from $780.00 to $625.00 and set a "buy" rating for the company in a research report on Wednesday, June 29th. BMO Capital Markets decreased their target price on Broadcom from $675.00 to $650.00 and set an "outperform" rating for the company in a research report on Friday, September 2nd. KeyCorp decreased their target price on Broadcom from $780.00 to $700.00 and set an "overweight" rating for the company in a research report on Friday, September 2nd. Truist Financial reduced their price target on Broadcom from $658.00 to $630.00 and set a "buy" rating for the company in a report on Friday, September 2nd. Finally, StockNews.com downgraded Broadcom from a "strong-buy" rating to a "buy" rating in a report on Tuesday, September 27th. Two research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $675.33.
Broadcom Stock Down 1.4 %
Shares of AVGO stock opened at $444.01 on Friday. Broadcom Inc. has a 1 year low of $443.64 and a 1 year high of $677.76. The stock has a market cap of $179.82 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09. The business's fifty day moving average is $515.90 and its 200-day moving average is $542.34. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.05 and a current ratio of 2.32.Broadcom (NASDAQ:AVGO – Get Rating) last issued its quarterly earnings results on Thursday, September 1st. The semiconductor manufacturer reported $9.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $0.23. Broadcom had a return on equity of 63.42% and a net margin of 31.96%. The company had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.41 billion. During the same period last year, the firm earned $6.32 EPS. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 34.41 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 22nd were given a dividend of $4.10 per share. This represents a $16.40 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Wednesday, September 21st. Broadcom's dividend payout ratio (DPR) is presently 70.93%.
About Broadcom
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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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