Broadcom Inc. $AVGO Shares Purchased by Anchor Investment Management LLC

Anchor Investment Management LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,964 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,372 shares during the quarter. Anchor Investment Management LLC’s holdings in Broadcom were worth $6,330,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AVGO. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Broadcom in the 2nd quarter valued at approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in Broadcom in the 2nd quarter worth approximately $28,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom during the second quarter valued at $28,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Broadcom during the 2nd quarter worth about $31,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $359.93 on Friday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61. The company has a market capitalization of $1.70 trillion, a P/E ratio of 75.62, a P/E/G ratio of 1.22 and a beta of 1.19. The stock has a 50 day moving average of $363.17 and a two-hundred day moving average of $317.95. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 38.82% and a net margin of 36.20%.Broadcom’s revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is currently 49.58%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 3,893 shares of the company’s 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 sale, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at $246,412,152.04. This 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 valued at $303,900,352. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AVGO shares. Deutsche Bank Aktiengesellschaft set a $430.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday. UBS Group restated a “buy” rating and issued a $472.00 target price (up from $415.00) on shares of Broadcom in a report on Monday, December 1st. Citigroup reiterated a “buy” rating and set a $480.00 price target (up previously from $415.00) on shares of Broadcom in a report on Friday. Finally, Bank of America boosted their price objective on shares of Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $435.85.

Broadcom Company Profile

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.