Seldon Capital LP Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Seldon Capital LP increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,920 shares of the semiconductor manufacturer’s stock after buying an additional 1,728 shares during the period. Seldon Capital LP’s holdings in Broadcom were worth $331,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpha DNA Investment Management LLC raised its holdings in Broadcom by 1,102.8% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 6,940 shares of the semiconductor manufacturer’s stock worth $1,197,000 after purchasing an additional 6,363 shares during the period. Larson Financial Group LLC increased its position in shares of Broadcom by 996.4% in the third quarter. Larson Financial Group LLC now owns 62,439 shares of the semiconductor manufacturer’s stock valued at $10,771,000 after buying an additional 56,744 shares in the last quarter. Sompo Asset Management Co. Ltd. raised its stake in shares of Broadcom by 871.3% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 19,620 shares of the semiconductor manufacturer’s stock worth $3,384,000 after buying an additional 17,600 shares during the period. Baltimore Washington Financial Advisors Inc. purchased a new position in shares of Broadcom during the 3rd quarter valued at approximately $339,000. Finally, MGB Wealth Management LLC grew its stake in Broadcom by 901.2% in the 3rd quarter. MGB Wealth Management LLC now owns 37,285 shares of the semiconductor manufacturer’s stock valued at $6,434,000 after acquiring an additional 33,561 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 0.4 %

Shares of Broadcom stock opened at $164.82 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 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 capitalization of $769.80 billion, a price-to-earnings ratio of 143.20, a PEG ratio of 1.93 and a beta of 1.17. The stock has a 50 day moving average of $173.72 and a 200 day moving average of $160.86.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business 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 was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. As a group, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is 184.19%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. The Goldman Sachs Group increased their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $195.96.

About Broadcom

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.