Analog Century Management LP Has $103.95 Million Position in Broadcom Inc. $AVGO

Analog Century Management LP decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,093 shares of the semiconductor manufacturer’s stock after selling 73,942 shares during the quarter. Broadcom makes up approximately 6.1% of Analog Century Management LP’s holdings, making the stock its 3rd biggest holding. Analog Century Management LP’s holdings in Broadcom were worth $103,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Broadcom during the 2nd quarter worth $18,579,549,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Vanguard Group Inc. grew its position in shares of Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares during the last quarter. Edgewood Management LLC bought a new position in shares of Broadcom during the second quarter worth about $1,571,438,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after acquiring an additional 4,077,910 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on AVGO. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. UBS Group reaffirmed a “buy” rating and set a $472.00 target price (up previously from $415.00) on shares of Broadcom in a research note on Monday, December 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Broadcom in a research report on Monday. Finally, Citigroup restated a “buy” rating and set a $415.00 price objective (up from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Three equities research 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 MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $392.46.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 837,433 shares of company stock worth $303,900,352. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $412.97 on Thursday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average of $361.37 and a two-hundred day moving average of $315.84. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 105.35, a PEG ratio of 1.38 and a beta of 1.19.

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.