Broadcom Inc. (NASDAQ:AVGO) Holdings Lifted by NCM Capital Management LLC

NCM Capital Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,580 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,422 shares during the quarter. NCM Capital Management LLC’s holdings in Broadcom were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AVGO. FMR LLC raised its stake in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Broadcom by 962.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock worth $5,519,591,000 after purchasing an additional 28,985,434 shares during the period. Finally, Fisher Asset Management LLC grew its position in Broadcom by 938.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer’s stock valued at $4,040,430,000 after buying an additional 21,168,095 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.5 %

NASDAQ:AVGO opened at $162.08 on Friday. The business’s fifty day moving average price is $173.39 and its 200 day moving average price is $161.69. The firm has a market capitalization of $757.01 billion, a price-to-earnings ratio of 140.82, a PEG ratio of 1.88 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Analyst Upgrades and Downgrades

A number of analysts have commented on AVGO shares. The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Rosenblatt Securities lowered their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

Insider Transactions at Broadcom

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 completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The trade was a 11.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

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.