Broadcom Inc. $AVGO Shares Purchased by FORA Capital LLC

FORA Capital LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 38.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,707 shares of the semiconductor manufacturer’s stock after acquiring an additional 16,402 shares during the period. Broadcom comprises approximately 1.8% of FORA Capital LLC’s investment portfolio, making the stock its largest holding. FORA Capital LLC’s holdings in Broadcom were worth $16,183,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AVGO. Sawyer & Company Inc increased its holdings 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 purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Broadcom in the second quarter worth $27,000. Legend Financial Advisors Inc. acquired a new position in shares of Broadcom in the 2nd quarter valued at approximately $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom in the 2nd quarter valued at $31,000. Finally, New England Capital Financial Advisors LLC acquired a new position in shares of Broadcom during the second quarter worth $31,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the business’s 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 sale, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 837,433 shares of company stock worth $303,900,352. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. Deutsche Bank Aktiengesellschaft set a $430.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their target price on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Mizuho increased their price target on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley raised their price target on shares of Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Benchmark raised their price objective on shares of Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $435.85.

Broadcom Stock Down 11.4%

Shares of Broadcom stock opened at $359.93 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a 50-day moving average of $363.17 and a 200 day moving average of $317.95. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The firm has a market cap of $1.70 trillion, a price-to-earnings ratio of 75.62, a PEG ratio of 1.22 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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 return on equity of 38.82% and a net margin of 36.20%.The firm had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the prior year, the company posted $1.42 earnings per share. The company’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s payout ratio is 49.58%.

Broadcom 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.