3,100 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Capricorn Fund Managers Ltd

Capricorn Fund Managers Ltd acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,100 shares of the semiconductor manufacturer’s stock, valued at approximately $2,689,000. Broadcom comprises 1.0% of Capricorn Fund Managers Ltd’s holdings, making the stock its 23rd largest position.

Several other hedge funds have also recently modified their holdings of AVGO. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Broadcom by 94.4% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after purchasing an additional 36,458 shares during the period. Fairfield Bush & CO. grew its position in shares of Broadcom by 2.6% during the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after acquiring an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Broadcom by 20.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after acquiring an additional 87,945 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Broadcom by 1.1% during the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after purchasing an additional 420 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in shares of Broadcom in the 1st quarter worth approximately $1,095,000. Institutional investors own 78.81% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $850.00 on Tuesday. The stock’s 50 day simple moving average is $875.05 and its 200 day simple moving average is $763.54. The company has a current ratio of 2.50, a quick ratio of 2.25 and a debt-to-equity ratio of 1.73. Broadcom Inc. has a 12-month low of $415.07 and a 12-month high of $923.67. The stock has a market capitalization of $350.83 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating the consensus estimate of $10.43 by $0.11. The company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. Broadcom’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $9.07 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 37.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 21st will be paid a $4.60 dividend. This represents a $18.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Wednesday, September 20th. Broadcom’s dividend payout ratio (DPR) is presently 56.58%.

Insider Activity at Broadcom

In related news, Director Check Kian Low bought 11,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the transaction, the director now owns 15,951 shares of the company’s stock, valued at $13,909,750.53. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Check Kian Low acquired 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the purchase, the director now owns 15,951 shares in the company, valued at approximately $13,909,750.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the completion of the transaction, the director now owns 9,123 shares of the company’s stock, valued at $7,806,368.64. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVGO. Bank of America raised their target price on Broadcom from $950.00 to $1,050.00 in a research report on Thursday, June 22nd. Robert W. Baird raised their price target on shares of Broadcom from $900.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, September 5th. Wolfe Research assumed coverage on Broadcom in a research note on Wednesday, July 19th. They issued a “market perform” rating on the stock. TD Cowen upped their price target on Broadcom from $800.00 to $900.00 and gave the company a “market perform” rating in a research report on Friday, September 1st. Finally, Oppenheimer lifted their price objective on Broadcom from $900.00 to $990.00 and gave the stock an “outperform” rating in a research report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $846.14.

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.