Sepio Capital LP Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

Sepio Capital LP grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,839 shares of the semiconductor manufacturer’s stock after purchasing an additional 400 shares during the quarter. Sepio Capital LP’s holdings in Broadcom were worth $426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after buying an additional 6,573,204 shares during the period. Geode Capital Management LLC raised its stake in shares of Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares during the last quarter. Norges Bank purchased a new stake in shares of Broadcom during the fourth quarter worth about $16,893,010,000. Charles Schwab Investment Management Inc. grew its stake in shares of Broadcom by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer’s stock worth $7,606,291,000 after purchasing an additional 810,907 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Broadcom by 27.4% during the 4th quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer’s stock valued at $6,236,011,000 after purchasing an additional 5,783,988 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVGO shares. Barclays lifted their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Mizuho decreased their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Robert W. Baird increased their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $146.29 on Monday. The company has a 50 day moving average of $201.57 and a 200 day moving average of $196.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The firm has a market cap of $687.85 billion, a P/E ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 697,976 shares of company stock valued at $127,336,102 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Company 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.