Robocap Asset Management Ltd Buys New Position in Broadcom Inc. $AVGO

Robocap Asset Management Ltd acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,800 shares of the semiconductor manufacturer’s stock, valued at approximately $924,000. Broadcom comprises about 0.6% of Robocap Asset Management Ltd’s investment portfolio, making the stock its 24th largest position.

A number of other institutional investors have also modified their holdings of AVGO. Longfellow Investment Management Co. LLC purchased a new stake in shares of Broadcom in the second quarter valued at $27,000. Teachers Insurance & Annuity Association of America purchased a new stake in Broadcom during the second quarter worth approximately $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Broadcom in the second quarter worth about $31,000. New England Capital Financial Advisors LLC acquired a new position in shares of Broadcom during the second quarter worth $31,000. Finally, JCIC Asset Management Inc. acquired a new position in shares of Broadcom in the third quarter worth about $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 320,316 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the sale, the director directly owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. The trade was a 0.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 130,000 shares of Broadcom stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the sale, the chief executive officer directly owned 595,638 shares of the company’s stock, valued at $194,189,900.76. This represents a 17.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 779,901 shares of company stock valued at $284,069,237 over the last quarter. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AVGO shares. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Citigroup restated a “buy” rating on shares of Broadcom in a research note on Thursday, January 15th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 target price on shares of Broadcom in a research report on Monday, January 5th. Mizuho set a $480.00 price target on Broadcom and gave the stock an “outperform” rating in a research note on Friday, January 9th. Finally, Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $410.00 to $430.00 in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Buy” and a consensus target price of $437.28.

Broadcom Price Performance

Shares of AVGO opened at $331.30 on Friday. The firm has a market cap of $1.57 trillion, a PE ratio of 69.60, a PEG ratio of 1.10 and a beta of 1.21. The firm’s 50 day moving average price is $355.76 and its 200 day moving average price is $337.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $17.46 billion. During the same period last year, the business posted $1.42 EPS. Broadcom’s revenue was up 28.2% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is presently 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.