17 Capital Partners LLC Buys New Position in Broadcom Inc. (NASDAQ:AVGO)

17 Capital Partners LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,250 shares of the semiconductor manufacturer’s stock, valued at approximately $216,000.

A number of other institutional investors also recently made changes to their positions in AVGO. Castleview Partners LLC grew its holdings in Broadcom by 1,030.8% during the third 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 period. Delta Asset Management LLC TN boosted its position in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares in the last quarter. Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% in the 3rd 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 acquired a new stake in Broadcom during the third quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC bought a new stake in Broadcom during the third quarter worth approximately $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO opened at $176.22 on Wednesday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The stock’s 50-day moving average is $171.08 and its two-hundred day moving average is $158.17. The firm has a market cap of $823.05 billion, a P/E ratio of 153.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.17. 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 issued 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. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue was up 47.3% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. On average, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research reports. Cantor Fitzgerald upped 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. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer dropped their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Hock E. Tan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,171,910 shares in the company, valued at $195,873,037.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is currently 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.