Caxton Associates LLP Acquires 96,148 Shares of Broadcom Inc. $AVGO

Caxton Associates LLP raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 803.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,118 shares of the semiconductor manufacturer’s stock after purchasing an additional 96,148 shares during the period. Broadcom makes up about 0.8% of Caxton Associates LLP’s investment portfolio, making the stock its 17th largest holding. Caxton Associates LLP’s holdings in Broadcom were worth $29,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Sawyer & Company Inc raised 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 bought a new stake in Broadcom in the 2nd quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in Broadcom during the 2nd quarter valued at $28,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Broadcom during the 2nd quarter valued at $28,000. Finally, LGT Financial Advisors LLC purchased a new position in shares of Broadcom in the 2nd quarter worth $31,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

AVGO opened at $359.93 on Friday. The company has a 50 day simple moving average of $363.17 and a two-hundred day simple moving average of $317.95. 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 firm has a market cap of $1.70 trillion, a P/E ratio of 75.62, a PEG ratio of 1.22 and a beta of 1.19. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 38.82%. The firm had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period last year, the firm earned $1.42 EPS. The company’s revenue was up 28.2% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. TD Cowen upped their price objective on Broadcom from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Friday. Susquehanna reiterated a “positive” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. UBS Group restated a “buy” rating and set a $472.00 target price (up from $415.00) on shares of Broadcom in a research report on Monday, December 1st. Morgan Stanley increased their price target on shares of Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Rosenblatt Securities boosted their price objective on shares of Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Buy” and a consensus target price of $435.85.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction 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 $246,412,152.04. This trade represents a 12.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 837,433 shares of company stock valued at $303,900,352. 2.00% of the stock is owned by corporate insiders.

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.