Blackhawk Capital Partners LLC Has $2.60 Million Stake in Broadcom Inc. $AVGO

Blackhawk Capital Partners LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 36.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,873 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,109 shares during the quarter. Broadcom makes up 1.0% of Blackhawk Capital Partners LLC’s portfolio, making the stock its 28th largest holding. Blackhawk Capital Partners LLC’s holdings in Broadcom were worth $2,597,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. State Street Corp lifted its stake in Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after purchasing an additional 873,963 shares during the period. Geode Capital Management LLC boosted its holdings in Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after purchasing an additional 2,226,585 shares in the last quarter. Norges Bank acquired a new stake in Broadcom during the second quarter valued at approximately $18,579,549,000. Finally, Invesco Ltd. grew its stake in shares of Broadcom by 8.4% in the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock valued at $10,598,641,000 after purchasing an additional 2,978,768 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on AVGO shares. Truist Financial boosted their price target on Broadcom from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Evercore ISI boosted their target price on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Morgan Stanley upped their target price on shares of Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Raymond James Financial set a $420.00 price target on shares of Broadcom and gave the company an “outperform” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadcom in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $438.61.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares of the company’s stock, valued at approximately $96,428,573.34. This trade represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 38,281 shares of Broadcom stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the sale, the insider owned 266,494 shares of the company’s stock, valued at approximately $87,316,759.10. This represents a 12.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 779,901 shares of company stock worth $284,069,237 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 0.8%

Shares of NASDAQ AVGO opened at $330.73 on Friday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The company has a 50-day moving average of $355.94 and a two-hundred day moving average of $336.85. The company has a market cap of $1.57 trillion, a PE ratio of 69.48, a P/E/G ratio of 1.10 and a beta of 1.21. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter last year, the business posted $1.42 earnings per share. Broadcom’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom’s payout ratio is currently 54.62%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.