Regent Investment Management LLC acquired a new position in Broadcom Inc (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,125 shares of the semiconductor manufacturer’s stock, valued at approximately $540,000.

A number of other institutional investors have also recently bought and sold shares of AVGO. FMR LLC bought a new position in shares of Broadcom during the 2nd quarter valued at $2,768,560,000. United Services Automobile Association bought a new position in shares of Broadcom during the 2nd quarter valued at $174,956,000. Putnam Investments LLC bought a new position in shares of Broadcom during the 2nd quarter valued at $1,359,000. Glenmede Trust Co. NA bought a new position in shares of Broadcom during the 2nd quarter valued at $11,341,000. Finally, Global X Management Co LLC bought a new position in shares of Broadcom during the 2nd quarter valued at $691,000. 86.43% of the stock is owned by hedge funds and other institutional investors.

NASDAQ AVGO traded down $2.91 during midday trading on Tuesday, hitting $257.91. The company had a trading volume of 17,253 shares, compared to its average volume of 3,315,445. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. The firm has a market capitalization of $106.22 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.18 and a beta of 0.73. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $273.85.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.58 by $0.27. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.40 billion. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $4.59 EPS. As a group, sell-side analysts expect that Broadcom Inc will post 18.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Wednesday, December 19th were given a $2.65 dividend. This represents a $10.60 annualized dividend and a yield of 4.11%. This is a positive change from Broadcom’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Tuesday, December 18th. Broadcom’s dividend payout ratio (DPR) is currently 56.29%.

In other news, CFO Thomas H. Krause sold 22,500 shares of Broadcom stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $257.08, for a total transaction of $5,784,300.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $228.94, for a total transaction of $4,578,800.00. The disclosure for this sale can be found here. Insiders sold a total of 99,723 shares of company stock worth $24,926,174 over the last 90 days. Company insiders own 3.30% of the company’s stock.

A number of research analysts have recently weighed in on the stock. B. Riley upgraded shares of Broadcom from a “neutral” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a report on Monday, December 3rd. BidaskClub downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 5th. Charter Equity upgraded shares of Broadcom from a “market perform” rating to a “buy” rating in a report on Friday, December 7th. Craig Hallum restated a “buy” rating and set a $305.00 price target (up previously from $300.00) on shares of Broadcom in a report on Friday, December 7th. Finally, Cowen restated an “outperform” rating and set a $280.00 price target (up previously from $255.00) on shares of Broadcom in a report on Friday, December 7th. Nine analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. Broadcom currently has an average rating of “Buy” and an average price target of $288.93.

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Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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