Silicon Valley Capital Partners Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Silicon Valley Capital Partners increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7,987.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 62,351 shares of the semiconductor manufacturer’s stock after purchasing an additional 61,580 shares during the quarter. Broadcom comprises about 1.4% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 18th biggest holding. Silicon Valley Capital Partners’ holdings in Broadcom were worth $10,755,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. boosted its position in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after acquiring an additional 1,303,462 shares during the last quarter. Swedbank AB increased its position in Broadcom by 858.7% during the 3rd 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 in the last quarter. Van ECK Associates Corp raised its holdings in Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after buying an additional 11,453,554 shares during the period. Raymond James & Associates lifted its position in Broadcom by 855.4% during the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after buying an additional 11,347,563 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Broadcom by 226,130.5% in the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after acquiring an additional 8,242,455 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Broadcom stock opened at $179.55 on Thursday. The company has a market cap of $838.60 billion, a PE ratio of 156.13, a P/E/G ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $87.62 and a 12 month high of $186.42. The company has a fifty day moving average price of $169.80 and a two-hundred day moving average price of $156.94. 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 data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.95 EPS. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. Research analysts expect 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. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. Broadcom’s dividend payout ratio (DPR) is 184.35%.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, 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 sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Rosenblatt Securities cut their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Broadcom currently 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.