Dnca Finance Purchases 42,695 Shares of Broadcom Inc. $AVGO

Dnca Finance raised its position in Broadcom Inc. (NASDAQ:AVGO) by 33.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 170,900 shares of the semiconductor manufacturer’s stock after purchasing an additional 42,695 shares during the period. Broadcom makes up approximately 3.6% of Dnca Finance’s investment portfolio, making the stock its 8th biggest position. Dnca Finance’s holdings in Broadcom were worth $47,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. Vanguard Group Inc. increased its holdings in Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after buying an additional 2,226,585 shares in the last quarter. Norges Bank acquired a new stake in Broadcom in the second quarter valued at $18,579,549,000. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Broadcom in the 1st quarter worth about $6,649,117,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 2.4%

NASDAQ:AVGO opened at $390.24 on Friday. The firm has a market capitalization of $1.84 trillion, a P/E ratio of 99.55, a P/E/G ratio of 1.33 and a beta of 1.19. The business has a 50 day simple moving average of $356.79 and a 200 day simple moving average of $312.12. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $403.00.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the company earned $1.24 earnings per share. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. TD Cowen increased their price target on shares of Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. increased their target price on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Wells Fargo & Company boosted their price target on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a report on Friday, September 5th. Sanford C. Bernstein raised their price objective on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Finally, Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a report on Thursday, November 20th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $391.04.

Broadcom 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.