Fairbanks Capital Management Inc. buy 70 shares of Broadcom Inc. (NASDAQ:AVGO)

Fairbanks Capital Management Inc. increased its stake in Broadcom Inc shares. (NASDAQ:AVGO – Free Report) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,864 shares of the semiconductor maker’s stock after buying an additional 70 shares during the quarter. Broadcom makes up about 3.0% of Fairbanks Capital Management Inc.’s portfolio, making the stock its 10th largest holding. Fairbanks Capital Management Inc. holdings holdings in Broadcom were worth $4,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Broadcom in the fourth quarter valued at about $6,225,987,000. Swedbank AB purchased a new stake in shares of Broadcom in the first quarter valued at about $2,835,737,000. Vanguard Group Inc. raised its position in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor maker’s stock valued at $59,181,244,000 after buying an additional 1,303,462 shares in the last quarter. Jennison Associates LLC raised its position in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor maker’s stock worth $5,488,556,000 after buying an additional 1,263,957 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor maker’s stock valued at $26,044,294,000 after purchasing an additional 1,006,223 shares during the last quarter. 76.43% of the shares are currently owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

Several analysts recently commented on AVGO shares. Sanford C. Bernstein upped their target price on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. UBS Group decreased their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, TD Cowen boosted their price objective on shares of Broadcom from $175.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Broadcom presently has an average rating of “Moderate Buy” and an average price target of $189.23, according to MarketBeat .

Check out the latest stock analysis on AVGO

Broadcom Stock Performance

Shares of AVGO stock opened at $148.21 on Wednesday. The company’s fifty-day simple moving average is $188.66, and its 200-day simple moving average is $156.32. Broadcom Inc. it has a 52-week low of $79.51 and a 52-week high of $185.16. 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 company has a market cap of $689.90 billion, a PE ratio of 6.37, a P/E/G ratio of 2.41 and a beta of 1.16.

Broadcom (NASDAQ:AVGO – Get Your Free Report ) last posted its earnings results on Thursday, September 5th. The semiconductor maker reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. In the same quarter last year, the firm posted EPS of $0.95. As a group, equities research analysts anticipate that Broadcom Inc. will post 3.75 EPS for the current year.

Broadcom raises dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be issued a dividend of $0.53 per share. This represents a dividend of $2.12 on an annualized basis and a yield of 1.43%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Insider activity at Broadcom

In related news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In related news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. Company insiders hold 2.00% of the company’s shares.

About Broadcom

(Free Report)

Broadcom Inc designs, develops and supplies various semiconductor devices with a focus on complex and mixed-signal complementary metal oxide semiconductor devices and III-V analog products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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