Caldwell Investment Management Ltd. Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Caldwell Investment Management Ltd. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 168.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,300 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,700 shares during the period. Broadcom makes up 0.5% of Caldwell Investment Management Ltd.’s portfolio, making the stock its 29th largest position. Caldwell Investment Management Ltd.’s holdings in Broadcom were worth $742,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Castleview Partners LLC grew its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Broadcom during the 3rd quarter valued at about $42,000. Highline Wealth Partners LLC bought a new position in Broadcom during the 3rd quarter valued at approximately $45,000. Finally, AlphaCentric Advisors LLC lifted its holdings in Broadcom by 859.3% in the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer’s stock worth $45,000 after buying an additional 232 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial raised their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. 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. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Morgan Stanley increased their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Trading Up 0.4 %

Shares of NASDAQ:AVGO opened at $163.89 on Friday. 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 Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The company has a market cap of $765.45 billion, a P/E ratio of 142.39, a PEG ratio of 1.94 and a beta of 1.17. The stock’s fifty day moving average price is $173.77 and its 200-day moving average price is $160.37.

Broadcom (NASDAQ:AVGO) last announced 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm posted $0.95 EPS. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. 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. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred 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 $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction 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 sale, the insider now directly owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.

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.