Argonautica Private Wealth Management Inc. Has $7.47 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Argonautica Private Wealth Management Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 903.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,325 shares of the semiconductor manufacturer’s stock after purchasing an additional 39,008 shares during the quarter. Broadcom comprises about 2.5% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 7th largest holding. Argonautica Private Wealth Management Inc.’s holdings in Broadcom were worth $7,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Lion Street Advisors LLC lifted its stake in Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after buying an additional 6 shares in the last quarter. O Dell Group LLC lifted its position in shares of Broadcom by 2.3% in the 1st quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock valued at $472,000 after acquiring an additional 8 shares in the last quarter. Hudson Value Partners LLC grew its position in Broadcom by 2.7% during the 1st quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer’s stock worth $408,000 after purchasing an additional 8 shares in the last quarter. Renasant Bank raised its stake in Broadcom by 1.0% during the 1st quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer’s stock valued at $1,040,000 after purchasing an additional 8 shares during the period. Finally, Optimum Investment Advisors lifted its holdings in shares of Broadcom by 0.6% in the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVGO. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased 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. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $173.90 on Wednesday. Broadcom Inc. has a 1-year low of $87.12 and a 1-year high of $186.42. The firm has a fifty day simple moving average of $169.37 and a 200-day simple moving average of $156.58. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $812.21 billion, a price-to-earnings ratio of 151.09, a PEG ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

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.