Broadcom Inc. $AVGO Stock Position Raised by Partners Capital Investment Group LLP

Partners Capital Investment Group LLP boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 50.0% during the third quarter, HoldingsChannel.com reports. The fund owned 16,249 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,415 shares during the period. Partners Capital Investment Group LLP’s holdings in Broadcom were worth $5,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arthur M. Cohen & Associates LLC increased its holdings in shares of Broadcom by 0.6% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after acquiring an additional 30 shares during the period. Jackson Hole Capital Partners LLC boosted its stake in Broadcom by 1.4% during the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after purchasing an additional 30 shares during the period. McHugh Group LLC grew its position in Broadcom by 0.4% in the 3rd quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock worth $2,782,000 after purchasing an additional 31 shares during the last quarter. Smith Thornton Advisors LLC increased its stake in shares of Broadcom by 1.4% in the third quarter. Smith Thornton Advisors LLC now owns 2,313 shares of the semiconductor manufacturer’s stock valued at $763,000 after purchasing an additional 31 shares during the period. Finally, FWG Investments LLC. increased its stake in shares of Broadcom by 2.7% in the third quarter. FWG Investments LLC. now owns 1,177 shares of the semiconductor manufacturer’s stock valued at $388,000 after purchasing an additional 31 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ:AVGO opened at $331.30 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $355.76 and its 200 day moving average price is $337.24. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The firm has a market cap of $1.57 trillion, a P/E ratio of 69.60, a PEG ratio of 1.10 and a beta of 1.21.

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

Broadcom Increases Dividend

The firm 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 annualized dividend and a yield of 0.8%. This is a positive change 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%.

Insider Buying and Selling

In other news, Director Henry Samueli sold 320,316 shares of the stock in a transaction on 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 owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. This represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the sale, the insider directly owned 266,494 shares of the company’s stock, valued at approximately $87,316,759.10. This represents a 12.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 779,901 shares of company stock worth $284,069,237 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AVGO shares. Evercore ISI increased their price objective on Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. TD Cowen reiterated a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Royal Bank Of Canada started coverage on Broadcom in a report on Wednesday, January 14th. They set a “sector perform” rating and a $370.00 price target on the stock. Susquehanna restated a “positive” rating and set a $450.00 price objective (up from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Buy” and an average target price of $437.28.

Broadcom Company 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.