E. Ohman J or Asset Management AB Increases Stake in Broadcom Inc.

E. Ohman J or Asset Management AB has significantly increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 128.3% during the fourth quarter, as per the latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 231,771 shares during this period, the firm now holds a total of 412,371 shares of the semiconductor manufacturer. Broadcom constitutes 2.2% of E. Ohman J or Asset Management AB's overall portfolio, making it the firm's sixth largest investment. According to the most recent SEC filing, these holdings are valued at approximately $95,604,000.

Investment Activities By Other Firms

Several other hedge funds have also modified their positions in Broadcom. Notably, Castleview Partners LLC increased its holdings by a staggering 1,030.8% in the third quarter, now owning 147 shares worth about $25,000 after acquiring an additional 134 shares. Similarly, Pin Oak Investment Advisors Inc. raised its stake by 900.0% in the same quarter, now possessing 150 shares valued at $25,000 after purchasing 135 extra shares. Other firms like Retirement Wealth Solutions LLC and R Squared Ltd have recently entered new positions in Broadcom, valued at $37,000 and $39,000 respectively. Institutional investors overall hold a significant majority of the stock, accounting for 76.43% of the total shares.

Insider Transactions

In recent events concerning insider activity, Director Check Kian Low sold 48,000 shares of Broadcom at an average price of $235.35, totaling $11,296,800. Following this transaction, Low's ownership decreased to 113,050 shares, worth around $26,606,317.50. Similarly, Director Eddy W. Hartenstein sold 4,000 shares at an average price of $229.64, amassing $918,560, which also led to a decline in his ownership by 7.94%. In total, insiders have sold 191,278 shares of the company, equating to $44,964,800 in the last three months, while corporate insiders maintain 2.00% of the stock.

Broadcom's Stock Performance

The stock of Broadcom opened at $231.36 recently. The average prices over the last fifty and two hundred days stand at $217.07 and $183.40, respectively. The company's market capitalization is $1.08 trillion, with a price-to-earnings ratio of 188.71. Broadcom’s shares have experienced a one-year low of $119.76 and a high of $251.88.

Company Earnings and Dividends

Broadcom reported its quarterly earnings results on December 12, revealing $1.42 earnings per share (EPS), slightly surpassing analysts’ expectations of $1.39. The company also celebrated a revenue of $14.05 billion, marking a 51.2% increase year-over-year. Broadcom recently increased its quarterly dividend to $0.59 per share, up from the previous amount of $0.53, with the dividend yield situated at 1.02%. The firm’s dividend payout ratio currently stands at 192.50%.

Analysts' Insights on Broadcom

Multiple analysts have revised their price targets for Broadcom, with Citigroup elevating its target from $175.00 to $205.00 while giving it a "buy" rating. TD Cowen also raised its target from $210.00 to $240.00, maintaining a "buy" rating. In another report, Deutsche Bank adjusted its price target from $190.00 to $240.00, also rating the stock as a "buy." The overall consensus suggests a rating of "Moderate Buy" with an average price target of roughly $225.04.

About Broadcom Inc.

Broadcom Inc. specializes in designing, developing, and supplying a variety of semiconductor devices, focusing on complex digital, mixed signal complementary metal oxide semiconductor based devices, and analog III-V based products globally. Its operations are divided into two segments: Semiconductor Solutions and Infrastructure Software.

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