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

Dnca Finance lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 33.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,900 shares of the semiconductor manufacturer’s stock after purchasing an additional 42,695 shares during the period. Broadcom comprises approximately 3.6% of Dnca Finance’s holdings, making the stock its 8th biggest holding. Dnca Finance’s holdings in Broadcom were worth $47,109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Sawyer & Company Inc lifted its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. PFS Partners LLC raised its stake in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 38 shares during the last quarter. Costello Asset Management INC lifted its holdings in Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after purchasing an additional 38 shares in the last quarter. Walkner Condon Financial Advisors LLC boosted its stake in shares of Broadcom by 1.0% during the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock worth $1,087,000 after purchasing an additional 38 shares during the last quarter. Finally, Carson Advisory Inc. boosted its stake in shares of Broadcom by 2.0% during the 2nd quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock worth $558,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Argus increased their price target on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. TD Cowen lifted their price objective on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Evercore ISI upped their target price on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Finally, Oppenheimer reiterated an “outperform” rating and set a $435.00 price objective (up from $400.00) on shares of Broadcom in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $391.04.

Insider Activity

In other news, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,483,192. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 2.4%

NASDAQ AVGO opened at $390.24 on Friday. Broadcom Inc. has a one year low of $138.10 and a one year high of $403.00. The company’s 50 day moving average price is $356.79 and its 200 day moving average price is $312.12. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 99.55, a PEG ratio of 1.33 and a beta of 1.19.

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

About Broadcom

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.