Rathbones Group PLC Has $7.50 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Rathbones Group PLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 23.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,674 shares of the semiconductor manufacturer’s stock after purchasing an additional 889 shares during the period. Rathbones Group PLC’s holdings in Broadcom were worth $7,504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TBH Global Asset Management LLC boosted its position in Broadcom by 29.2% during the fourth quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after acquiring an additional 145 shares during the last quarter. Gilbert & Cook Inc. boosted its position in Broadcom by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock valued at $934,000 after acquiring an additional 39 shares during the last quarter. Aveo Capital Partners LLC boosted its position in Broadcom by 15.9% during the fourth quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock valued at $512,000 after acquiring an additional 63 shares during the last quarter. 9258 Wealth Management LLC boosted its position in Broadcom by 1.5% during the fourth quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock valued at $4,336,000 after acquiring an additional 58 shares during the last quarter. Finally, Gryphon Financial Partners LLC boosted its position in Broadcom by 99.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after acquiring an additional 801 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler upped their price target on shares of Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Morgan Stanley increased their price objective 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. Melius initiated coverage on shares of Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, Melius Research initiated coverage on shares of Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 7,502 shares of the firm’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 completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Hock E. Tan sold 7,502 shares of the firm’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 completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now directly owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 1.9 %

NASDAQ:AVGO opened at $167.69 on Monday. 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 firm has a market cap of $780.58 billion, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a 52 week low of $79.51 and a 52 week high of $185.16. The firm has a 50-day moving average price of $188.15 and a two-hundred day moving average price of $157.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. On average, equities analysts expect that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.26%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

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.