Aubrey Capital Management Ltd Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

Aubrey Capital Management Ltd decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,700 shares of the semiconductor manufacturer’s stock after selling 1,300 shares during the quarter. Broadcom comprises 2.1% of Aubrey Capital Management Ltd’s portfolio, making the stock its 11th biggest holding. Aubrey Capital Management Ltd’s holdings in Broadcom were worth $5,468,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of AVGO. Swedbank AB lifted its stake in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Broadcom by 917.8% during the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after acquiring an additional 11,453,554 shares during the last quarter. Raymond James & Associates boosted its holdings in Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after acquiring an additional 11,347,563 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Broadcom by 908.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer’s stock valued at $1,962,029,000 after acquiring an additional 10,245,786 shares during the last quarter. Finally, National Pension Service increased its stake in Broadcom by 1,045.4% in the third quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock worth $1,427,120,000 after purchasing an additional 7,550,878 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 3.3 %

AVGO stock opened at $164.84 on Monday. The stock has a market capitalization of $769.90 billion, a PE ratio of 143.21, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. 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 firm has a 50 day moving average of $172.84 and a 200 day moving average of $159.35.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.29%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’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 represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Rosenblatt Securities lowered their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. The Goldman Sachs Group boosted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom 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.