Oxbow Capital Management HK Ltd Has $60.64 Million Stock Position in Broadcom Inc. $AVGO

Oxbow Capital Management HK Ltd cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,000 shares of the semiconductor manufacturer’s stock after selling 7,000 shares during the period. Broadcom accounts for 15.4% of Oxbow Capital Management HK Ltd’s portfolio, making the stock its 2nd largest holding. Oxbow Capital Management HK Ltd’s holdings in Broadcom were worth $60,643,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Sawyer & Company Inc boosted its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares during the period. PFS Partners LLC grew its holdings in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 38 shares in the last quarter. Costello Asset Management INC increased its holdings in Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after buying an additional 38 shares during the period. Walkner Condon Financial Advisors LLC raised its position in Broadcom by 1.0% during the second quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock valued at $1,087,000 after purchasing an additional 38 shares in the last quarter. Finally, Carson Advisory Inc. boosted its stake in shares of Broadcom by 2.0% during the second quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock valued at $558,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 2.4%

NASDAQ:AVGO opened at $390.24 on Monday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $403.00. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $356.79 and its 200 day moving average is $312.70. The stock has a market capitalization of $1.84 trillion, a PE ratio of 99.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the company earned $1.24 earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 665,271 shares of company stock worth $225,483,192 over the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Oppenheimer reissued an “outperform” rating and issued a $435.00 price objective (up previously from $400.00) on shares of Broadcom in a research note on Friday. KeyCorp set a $460.00 price objective on shares of Broadcom in a research report on Monday, October 13th. Wells Fargo & Company boosted their target price on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Rosenblatt Securities boosted their price target on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Argus increased their price objective on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $391.04.

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.