Decatur Capital Management Inc. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Decatur Capital Management Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,166 shares of the semiconductor manufacturer’s stock after purchasing an additional 68 shares during the period. Broadcom comprises 2.5% of Decatur Capital Management Inc.’s investment portfolio, making the stock its 10th biggest position. Decatur Capital Management Inc.’s holdings in Broadcom were worth $5,083,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. AXA S.A. increased its position in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after acquiring an additional 7,608 shares during the last quarter. Capital International Ltd. CA increased its position in shares of Broadcom by 1.7% during the 4th quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock valued at $87,367,000 after purchasing an additional 1,310 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Broadcom by 19.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock worth $842,160,000 after purchasing an additional 84,196 shares during the period. Focus Financial Network Inc. ADV purchased a new position in shares of Broadcom in the 4th quarter worth about $2,238,000. Finally, Gryphon Financial Partners LLC grew 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 buying an additional 801 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Sanford C. Bernstein boosted their target price on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. 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 research note on Monday, June 24th. Evercore ISI raised their target price on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of Broadcom in a research report on Friday, September 6th. Finally, Wells Fargo & Company lifted their price objective on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Activity

In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom 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 transaction, 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 filing with the SEC, which is available through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated 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 directly owns 138,191 shares in the company, valued at $235,746,936.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value 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 approximately $217,594,136.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,702 shares of company stock valued at $25,206,941. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.4 %

AVGO opened at $175.52 on Thursday. The business’s fifty day simple moving average is $156.95 and its 200 day simple moving average is $147.42. Broadcom Inc. has a 52 week low of $80.44 and a 52 week high of $185.16. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $819.78 billion, a PE ratio of 7.55, a P/E/G ratio of 2.78 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. As a group, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

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.