NCP Inc. Purchases 400 Shares of Broadcom Inc. (NASDAQ:AVGO)

NCP Inc. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 615.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 465 shares of the semiconductor manufacturer’s stock after acquiring an additional 400 shares during the period. Broadcom comprises approximately 0.5% of NCP Inc.’s portfolio, making the stock its 25th biggest holding. NCP Inc.’s holdings in Broadcom were worth $747,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. D.B. Root & Company LLC grew its position in Broadcom by 58.0% during the 2nd quarter. D.B. Root & Company LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $398,000 after acquiring an additional 91 shares during the last quarter. Sterling Financial Group Inc. purchased a new position in shares of Broadcom in the second quarter valued at about $218,000. Granite Bay Wealth Management LLC bought a new position in shares of Broadcom during the second quarter valued at about $7,875,000. Realta Investment Advisors boosted its holdings in shares of Broadcom by 162.8% during the second quarter. Realta Investment Advisors now owns 2,636 shares of the semiconductor manufacturer’s stock worth $4,232,000 after purchasing an additional 1,633 shares during the period. Finally, RFG Advisory LLC grew its stake in shares of Broadcom by 10.9% in the second quarter. RFG Advisory LLC now owns 3,765 shares of the semiconductor manufacturer’s stock worth $6,045,000 after purchasing an additional 371 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’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 value of $12,798,036.90. Following the completion of the transaction, 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 the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,452 shares of company stock worth $51,278,838. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Piper Sandler boosted their price objective 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. UBS Group dropped their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Evercore ISI boosted their price target on shares of Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Finally, The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two investment 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 MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $189.23.

Broadcom Trading Down 2.9 %

Broadcom stock opened at $167.47 on Wednesday. Broadcom Inc. has a one year low of $80.89 and a one year high of $185.16. The business’s fifty day moving average is $158.30 and its 200 day moving average is $148.82. The stock has a market capitalization of $779.55 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 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.