Broadcom Inc. $AVGO Shares Acquired by Partners Capital Investment Group LLP

Partners Capital Investment Group LLP increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 50.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,249 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,415 shares during the period. Partners Capital Investment Group LLP’s holdings in Broadcom were worth $5,361,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AVGO. Assetmark Inc. lifted its position in Broadcom by 2.4% during the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock valued at $469,566,000 after buying an additional 39,466 shares in the last quarter. Capital Counsel LLC NY acquired a new stake in shares of Broadcom in the second quarter worth $221,000. Waterloo Capital L.P. raised its stake in shares of Broadcom by 7.0% in the 2nd quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after acquiring an additional 3,180 shares during the period. Providence First Trust Co lifted its holdings in shares of Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock valued at $2,944,000 after acquiring an additional 8,179 shares in the last quarter. Finally, RiverFront Investment Group LLC boosted its position in Broadcom by 107.6% during the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after purchasing an additional 8,566 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AVGO shares. Susquehanna restated a “positive” rating and set a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. UBS Group set a $475.00 target price on Broadcom and gave the company a “buy” rating in a report on Monday, December 15th. Barclays restated an “overweight” rating and issued a $500.00 price target (up previously from $450.00) on shares of Broadcom in a report on Friday, December 12th. Citigroup reissued a “buy” rating on shares of Broadcom in a research report on Thursday, January 15th. Finally, Wolfe Research raised shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $437.28.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 1,928 shares of Broadcom stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the transaction, the insider owned 23,582 shares in the company, valued at approximately $7,730,179.60. This trade represents a 7.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total value of $10,413,600.00. Following the sale, the insider directly owned 210,573 shares in the company, valued at approximately $73,094,099.76. This represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 779,901 shares of company stock valued at $284,069,237 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $331.30 on Friday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.57 trillion, a P/E ratio of 69.60, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. The stock has a 50 day moving average of $355.76 and a 200-day moving average of $337.24.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the prior year, the company posted $1.42 earnings per share. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. Broadcom’s payout ratio is 54.62%.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.