Broadcom Inc. (NASDAQ:AVGO) Shares Bought by One Capital Management LLC

One Capital Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 331.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,850 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,189 shares during the period. One Capital Management LLC’s holdings in Broadcom were worth $4,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Lion Street Advisors LLC lifted its stake in shares of Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after acquiring an additional 6 shares during the period. Tucker Asset Management LLC lifted its stake in shares of Broadcom by 12.5% in the 4th quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock worth $80,000 after acquiring an additional 8 shares during the period. Buckley Wealth Management LLC raised its holdings in shares of Broadcom by 0.7% in the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after purchasing an additional 8 shares in the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares in the last quarter. Finally, Ascent Wealth Partners LLC raised its holdings in shares of Broadcom by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock worth $3,929,000 after purchasing an additional 8 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO opened at $164.02 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $763.49 billion, a PE ratio of 7.05, a PEG ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a 52 week low of $79.51 and a 52 week high of $185.16. The company’s 50 day moving average price is $157.41 and its 200 day moving average price is $145.98.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. Research analysts expect that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Analysts Set New Price Targets

A number of analysts recently commented on AVGO shares. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Melius Research started coverage on shares of Broadcom in a report on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price on the stock. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday. Finally, Oppenheimer cut their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Justine Page sold 2,540 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.