Curi Capital LLC Boosts Position in Broadcom Inc. $AVGO

Curi Capital LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 46.4% in the second quarter, Holdings Channel.com reports. The fund owned 87,319 shares of the semiconductor manufacturer’s stock after purchasing an additional 27,670 shares during the period. Curi Capital LLC’s holdings in Broadcom were worth $24,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of Broadcom by 2.4% during the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock valued at $469,566,000 after purchasing an additional 39,466 shares during the last quarter. Capital Counsel LLC NY bought a new position in Broadcom during the 2nd quarter valued at approximately $221,000. Waterloo Capital L.P. raised its stake in Broadcom by 7.0% during the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after buying an additional 3,180 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after acquiring an additional 13,978 shares in the last quarter. Finally, RiverFront Investment Group LLC grew its stake in shares of Broadcom by 107.6% in the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after acquiring an additional 8,566 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVGO shares. Oppenheimer raised their price target on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday. Cowen reiterated a “buy” rating on shares of Broadcom in a research note on Friday. Mizuho lifted their target price on Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen boosted their price target on Broadcom from $405.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Broadcom in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $435.85.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 837,433 shares of company stock worth $303,900,352 in the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 11.4%

NASDAQ:AVGO opened at $359.93 on Friday. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 75.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The business has a fifty day moving average price of $363.17 and a 200-day moving average price of $317.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 38.82%. The business had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s revenue was up 28.2% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be paid a dividend of $0.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is 49.58%.

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.