Dilation Capital Management LP Increases Holdings in Broadcom Inc. $AVGO

Dilation Capital Management LP increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 27,364 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,984 shares during the period. Broadcom accounts for 4.5% of Dilation Capital Management LP’s investment portfolio, making the stock its 11th largest position. Dilation Capital Management LP’s holdings in Broadcom were worth $9,028,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in AVGO. Brighton Jones LLC increased its holdings in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after acquiring an additional 5,322 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Broadcom by 10.4% during 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 in the last quarter. United Bank increased its holdings in shares of Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its position in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after buying an additional 1,160 shares in the last quarter. Finally, Kooman & Associates bought a new stake in Broadcom during the second quarter valued at $200,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares in the company, valued at approximately $96,428,573.34. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 130,000 shares of the stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the sale, the chief executive officer owned 595,638 shares of the company’s stock, valued at approximately $194,189,900.76. This represents a 17.92% 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 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $332.79 on Wednesday. The company has a 50-day simple moving average of $356.69 and a two-hundred day simple moving average of $336.92. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 69.91, a PEG ratio of 1.08 and a beta of 1.21. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a $0.65 dividend. 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 0.8%. The ex-dividend date was Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is 54.62%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Sanford C. Bernstein restated an “outperform” rating and issued a $475.00 target price (up from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Mizuho set a $480.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a research report on Friday, January 9th. Morgan Stanley lifted their target price on shares of Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Wells Fargo & Company raised shares of Broadcom from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $410.00 to $430.00 in a report on Thursday, January 15th. Finally, TD Cowen restated a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Two 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $438.61.

Broadcom Profile

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.