Sage Advisors LLC Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Sage Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 907.1% during the third quarter, Holdings Channel reports. The firm owned 1,853 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,669 shares during the quarter. Broadcom makes up 0.3% of Sage Advisors LLC’s portfolio, making the stock its 21st biggest holding. Sage Advisors LLC’s holdings in Broadcom were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MQS Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at about $478,000. Axxcess Wealth Management LLC boosted its stake in Broadcom by 3.3% during the first quarter. Axxcess Wealth Management LLC now owns 19,365 shares of the semiconductor manufacturer’s stock valued at $25,667,000 after buying an additional 613 shares during the last quarter. Stamos Capital Partners L.P. boosted its stake in Broadcom by 13.3% during the first quarter. Stamos Capital Partners L.P. now owns 1,280 shares of the semiconductor manufacturer’s stock valued at $1,697,000 after buying an additional 150 shares during the last quarter. Cadence Bank increased its stake in Broadcom by 1.2% in the 1st quarter. Cadence Bank now owns 26,650 shares of the semiconductor manufacturer’s stock worth $35,322,000 after acquiring an additional 327 shares during the last quarter. Finally, K2 Principal Fund L.P. purchased a new stake in shares of Broadcom during the 1st quarter worth approximately $1,922,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last ninety days. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AVGO shares. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Price Performance

Shares of AVGO stock opened at $165.35 on Wednesday. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $173.68 and a two-hundred day simple moving average of $159.82. The stock has a market capitalization of $772.28 billion, a price-to-earnings ratio of 143.78, a P/E/G ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.28%. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

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.