GAMMA Investing LLC Buys 7,640 Shares of Broadcom Inc. $AVGO

GAMMA Investing LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,647 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,640 shares during the period. Broadcom makes up about 2.2% of GAMMA Investing LLC’s holdings, making the stock its 5th largest holding. GAMMA Investing LLC’s holdings in Broadcom were worth $40,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank grew its stake in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the period. Senator Investment Group LP purchased a new stake in shares of Broadcom in the 1st quarter valued at approximately $29,759,000. Finally, Colonial Trust Advisors increased its holdings in shares of Broadcom by 161.4% during the 1st quarter. Colonial Trust Advisors now owns 8,376 shares of the semiconductor manufacturer’s stock worth $1,402,000 after buying an additional 5,172 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares in the company, valued at $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 790,713 shares of company stock worth $287,419,394. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $341.30 on Wednesday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The firm has a 50 day moving average of $363.35 and a two-hundred day moving average of $319.91. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.61 trillion, a PE ratio of 71.70, a P/E/G ratio of 1.23 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same period last year, the firm earned $1.42 earnings per share. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS 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 dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is currently 49.58%.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Weiss Ratings reiterated a “buy (b-)” rating on shares of Broadcom in a report on Monday. KeyCorp reaffirmed an “overweight” rating and issued a $500.00 price target (up previously from $460.00) on shares of Broadcom in a research note on Friday. Bank of America increased their price target on Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Citigroup reissued a “buy” rating and set a $480.00 price objective (up from $415.00) on shares of Broadcom in a research report on Friday. Finally, Raymond James Financial set a $420.00 target price on shares of Broadcom and gave the company an “outperform” rating in a research report on Thursday, November 20th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Buy” and an average target price of $435.96.

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.