Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by LGT Group Foundation

LGT Group Foundation raised its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 5.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,560 shares of the semiconductor maker’s stock after purchasing an additional 4,278 shares during the period. Broadcom comprises 2.0% of LGT Group Foundation’s portfolio, making the stock its 10th biggest holding. LGT Group Foundation’s holdings in Broadcom were worth $135,764,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. grew its position in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor maker’s stock valued at $25,000 after purchasing an additional 8 shares in the last quarter. Richardson Capital Management LLC purchased a new position in shares of Broadcom in the first quarter valued at approximately $29,000. Delta Asset Management LLC TN raised its position in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor maker’s stock valued at $32,000 after buying an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Broadcom in the first quarter valued at about $36,000. Finally, Ulland Investment Advisors LLC purchased a new position in shares of Broadcom in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 76.43% of the company’s shares.

Insider buying and selling

In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on 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 in the company, valued at $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction on 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 in the company, valued at $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the transaction, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the shares are currently owned by company insiders.

Broadcom Stock Performance

Broadcom stock opened at $148.21 on Wednesday. The stock has a market cap of $689.90 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. 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 stock has a 50-day moving average of $188.66 and a 200-day moving average of $156.32. Broadcom Inc. it has a 52-week low of $79.51 and a 52-week high of $185.16.

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 the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue increased by 47.3% year-on-year. During the same period in the previous year, the business posted EPS of $0.95. On average, analysts expect that Broadcom Inc. to post 3.75 EPS for the current fiscal year.

Broadcom raises dividend

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

Analysts on Wall Street are forecasting an increase

Several equities analysts recently commented on the stock. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. UBS Group decreased their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley upped their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Oppenheimer dropped their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group upped their target price on shares of Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.23, based on data from MarketBeat.com.

Check out our latest report on AVGO

Broadcom profile

(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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