Dantai Capital Ltd Buys 7,695 Shares of Broadcom Inc. (NASDAQ:AVGO)

Dantai Capital Ltd boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,550 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,695 shares during the period. Broadcom accounts for approximately 1.9% of Dantai Capital Ltd’s holdings, making the stock its 21st biggest holding. Dantai Capital Ltd’s holdings in Broadcom were worth $1,475,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AVGO. NCP Inc. lifted its position in Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares during the period. Stanley Laman Group Ltd. lifted its position in Broadcom by 8.6% during the second quarter. Stanley Laman Group Ltd. now owns 1,435 shares of the semiconductor manufacturer’s stock valued at $2,304,000 after buying an additional 114 shares during the period. Brookstone Capital Management lifted its position in Broadcom by 1,088.3% during the second quarter. Brookstone Capital Management now owns 35,423 shares of the semiconductor manufacturer’s stock valued at $56,873,000 after buying an additional 32,442 shares during the period. Insight Wealth Partners LLC lifted its position in Broadcom by 13.2% during the second quarter. Insight Wealth Partners LLC now owns 727 shares of the semiconductor manufacturer’s stock valued at $1,168,000 after buying an additional 85 shares during the period. Finally, Gradient Investments LLC lifted its position in Broadcom by 9.1% during the second quarter. Gradient Investments LLC now owns 13,856 shares of the semiconductor manufacturer’s stock valued at $22,246,000 after buying an additional 1,159 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $212.08.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 18.4 %

Broadcom stock opened at $213.90 on Friday. The business has a 50-day simple moving average of $173.65 and a two-hundred day simple moving average of $163.86. The company has a market cap of $999.04 billion, a P/E ratio of 156.96, a P/E/G ratio of 2.15 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $104.15 and a 52-week high of $213.90.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. Analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.10%. Broadcom’s payout ratio is 184.19%.

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.