Broadcom Inc. $AVGO is Graphene Investments SAS’s 5th Largest Position

Graphene Investments SAS lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,200 shares of the semiconductor manufacturer’s stock after selling 6,900 shares during the period. Broadcom accounts for about 3.6% of Graphene Investments SAS’s investment portfolio, making the stock its 5th largest position. Graphene Investments SAS’s holdings in Broadcom were worth $5,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Financial Network Corp boosted its holdings in shares of Broadcom by 1.7% during the 2nd quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer’s stock valued at $535,000 after purchasing an additional 33 shares during the last quarter. BancFirst Trust & Investment Management increased its holdings in shares of Broadcom by 2.9% in the third quarter. BancFirst Trust & Investment Management now owns 1,235 shares of the semiconductor manufacturer’s stock worth $405,000 after purchasing an additional 35 shares during the last quarter. Sawyer & Company Inc lifted its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 shares in the last quarter. PFS Partners LLC boosted its stake in Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 38 shares during the last quarter. Finally, Costello Asset Management INC grew its holdings in Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after buying an additional 38 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $326.02 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 68.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.19. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The company’s 50-day moving average is $362.96 and its 200 day moving average is $319.95.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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 during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed 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 is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio is currently 49.58%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. KeyCorp reiterated an “overweight” rating and set a $500.00 target price (up from $460.00) on shares of Broadcom in a research report on Friday, December 12th. Citigroup reaffirmed a “buy” rating and set a $480.00 price target (up previously from $415.00) on shares of Broadcom in a research note on Friday, December 12th. Cowen reiterated a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Wells Fargo & Company boosted their target price on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Finally, UBS Group set a $475.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Monday. Three research 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. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $435.96.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 320,316 shares of Broadcom stock in a transaction on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the sale, the director directly owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction on 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 sale, 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. Insiders have sold a total of 791,513 shares of company stock worth $287,708,906 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.