Fidelis Capital Partners LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO)

Fidelis Capital Partners LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report ) by 975.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,838 shares of the semiconductor maker’s stock after acquiring an additional 39,762 shares during the quarter. Broadcom makes up approximately 8.9% of Fidelis Capital Partners LLC’s investment portfolio, making the stock its largest position. Fidelis Capital Partners LLC’s holdings in Broadcom were worth $70,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Legend Financial Advisors Inc. boosted its holdings 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 buying an additional 8 shares during the last quarter. Richardson Capital Management LLC bought a new position in Broadcom in the first quarter valued at $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 worth $32,000 after acquiring an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Broadcom in the first quarter valued at $36,000. Finally, Ulland Investment Advisors LLC bought a new position in Broadcom in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 76.43% of the company’s shares.

Insider activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred 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 owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s shares.

Broadcom trading rose 2.2%

NASDAQ AVGO opened at $171.10 on Friday. The stock has a market cap of $796.45 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 2.55 and a beta of 1.16. Broadcom Inc. it has a 52-week low of $79.51 and a 52-week high of $185.16. The stock’s 50-day moving average is $156.81, and its two-hundred-day moving average is $146.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94, and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO – Get Your Free Report ) last announced 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. In the same quarter last year, the company posted earnings of $0.95 per share. The company’s revenue increased by 47.3% year-on-year. As a group, analysts anticipate that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom raises dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a $0.53 dividend. The ex-dividend date is Thursday, September 19. This represents a dividend of $2.12 on an annualized basis and a dividend yield of 1.24%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

Analysts set new price targets

Several analysts have weighed in on AVGO shares. Oppenheimer dropped their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Barclays raised their price objective on shares of Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Truist Financial boosted their target price on shares of Broadcom from $156.60 to $204.50 and gave the company a “buy” rating in a research report on Thursday, June 13th. Melius assumed coverage on Broadcom in a research report on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price on the stock. Finally, Bank of America reiterated a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th . Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Broadcom has an average rating of “Moderate Buy” and an average target price of $189.23, according to MarketBeat .

See the latest stock report on Broadcom

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.

Featured stories

Get news and reviews for Broadcom Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Broadcom and related companies with MarketBeat.com’s FREE daily email newsletter.