Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Silicon Valley Capital Partners

Silicon Valley Capital Partners increased its position in Broadcom Inc. (NASDAQ:AVGO) by 7,987.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 62,351 shares of the semiconductor manufacturer’s stock after purchasing an additional 61,580 shares during the period. Broadcom accounts for about 1.4% of Silicon Valley Capital Partners’ holdings, making the stock its 18th biggest holding. Silicon Valley Capital Partners’ holdings in Broadcom were worth $10,755,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SYM FINANCIAL Corp boosted its holdings in shares of Broadcom by 6.0% in the first quarter. SYM FINANCIAL Corp now owns 390 shares of the semiconductor manufacturer’s stock valued at $517,000 after acquiring an additional 22 shares during the period. Concord Investment Counsel Inc. purchased a new stake in Broadcom in the 1st quarter valued at $297,000. CFO4Life Group LLC boosted its stake in Broadcom by 5.2% during the 1st quarter. CFO4Life Group LLC now owns 1,225 shares of the semiconductor manufacturer’s stock worth $1,624,000 after purchasing an additional 61 shares during the period. Empirical Finance LLC grew its position in Broadcom by 3.7% during the 1st quarter. Empirical Finance LLC now owns 14,728 shares of the semiconductor manufacturer’s stock worth $19,521,000 after purchasing an additional 528 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Broadcom by 2.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,695 shares of the semiconductor manufacturer’s stock valued at $23,453,000 after purchasing an additional 460 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 3.2 %

AVGO opened at $179.55 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $838.60 billion, a price-to-earnings ratio of 156.13, a PEG ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a one year low of $87.62 and a one year high of $186.42. The business’s fifty day moving average is $169.80 and its two-hundred day moving average is $156.94.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. Analysts anticipate 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 184.35%.

Analyst Ratings Changes

A number of research firms recently issued reports on AVGO. Morgan Stanley raised their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Benchmark restated a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Finally, Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were 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 owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last ninety days. 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.