Miramar Capital LLC Purchases 102,939 Shares of Broadcom Inc. (NASDAQ:AVGO)

Miramar Capital LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 862.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 114,877 shares of the semiconductor manufacturer’s stock after acquiring an additional 102,939 shares during the quarter. Broadcom comprises about 4.6% of Miramar Capital LLC’s portfolio, making the stock its 5th biggest holding. Miramar Capital LLC’s holdings in Broadcom were worth $19,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. InterOcean Capital Group LLC boosted its stake in shares of Broadcom by 8.4% during the 1st quarter. InterOcean Capital Group LLC now owns 2,822 shares of the semiconductor manufacturer’s stock worth $3,740,000 after acquiring an additional 219 shares in the last quarter. Ossiam raised its holdings in Broadcom by 763.2% in the 1st quarter. Ossiam now owns 74,430 shares of the semiconductor manufacturer’s stock worth $98,650,000 after purchasing an additional 65,807 shares during the period. MQS Management LLC purchased a new position in Broadcom during the first quarter worth approximately $478,000. Crewe Advisors LLC acquired a new stake in Broadcom in the first quarter valued at approximately $1,088,000. Finally, Payden & Rygel Investment Group purchased a new stake in shares of Broadcom in the first quarter valued at approximately $23,208,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AVGO shares. Morgan Stanley increased their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Mizuho upped their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Trading Up 0.5 %

Shares of AVGO stock opened at $165.67 on Tuesday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a 50 day moving average price of $173.34 and a 200 day moving average price of $159.57. The stock has a market capitalization of $773.77 billion, a P/E ratio of 143.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. 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) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during 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 quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.28%. Broadcom’s dividend payout ratio is 184.19%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.