Fairscale Capital Llc invested $8.14 million in Broadcom Inc. (NASDAQ:AVGO)

Fairscale Capital LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 5,070 shares of the semiconductor manufacturer’s stock, valued at approximately $8,140,000. Broadcom makes up about 6.8% of Fairscale Capital LLC’s portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in 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 purchasing an additional 1,303,462 shares during the last quarter. Capital International Investors boosted its holdings in Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor maker’s stock worth $26,044,294,000 after acquiring an additional 1,006,223 shares during the last quarter. Northern Trust Corp raised its stake in shares of Broadcom by 3.7% in the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor maker’s stock worth $5,386,425,000 after purchasing an additional 170,063 shares during the last quarter. Jennison Associates LLC boosted its holdings 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 valued at $5,488,556,000 after purchasing an additional 1,263,957 shares during the last quarter. Finally, GQG Partners LLC raised its position in shares of Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor maker’s stock worth $3,966,730,000 after buying an additional 983,328 shares during the last quarter. 76.43% of the shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

Several brokerages have issued reports on AVGO. Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Sanford C. Bernstein boosted their price objective on Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Evercore ISI boosted their target price on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Goldman Sachs Group upped their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Melius Research began coverage on Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Moderate Buy” and an average price target of $189.23, according to MarketBeat .

Check out our latest report on Broadcom

Indoor activity

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

Broadcom price performance

NASDAQ AVGO opened at $171.10 on Friday. The company’s fifty-day moving average is $156.81, and its 200-day moving average is $146.91. Broadcom Inc. it has a fifty-two week low of $79.51 and a fifty-two week high of $185.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94, and a current ratio of 1.04. The company has a market cap of $796.45 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO – Get Your Free Report ) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor maker reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for 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 quarterly revenue was up 47.3% year over year. During the same period in the previous year, the firm earned $0.95 EPS. Sell-side analysts predict that Broadcom Inc. will post 3.77 earnings per share for the current year.

Broadcom raises dividend

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

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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