Seldon Capital LP Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Seldon Capital LP grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,920 shares of the semiconductor manufacturer’s stock after buying an additional 1,728 shares during the quarter. Seldon Capital LP’s holdings in Broadcom were worth $331,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Lion Street Advisors LLC boosted its position in shares of Broadcom by 1.9% in the second 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 last quarter. Optimum Investment Advisors grew its stake in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after purchasing an additional 8 shares in the last quarter. Anderson Hoagland & Co. increased its holdings in Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock worth $4,623,000 after purchasing an additional 9 shares during the last quarter. Wealth Group Ltd raised its position in shares of Broadcom by 6.0% in the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock valued at $283,000 after purchasing an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its stake in shares of Broadcom by 1.4% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after buying an additional 10 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of the business’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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $164.82 on Tuesday. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $769.80 billion, a price-to-earnings ratio of 143.20, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The business has a 50 day simple moving average of $173.72 and a 200 day simple moving average of $160.86.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. 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. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AVGO shares. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Rosenblatt Securities dropped their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $195.96.

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.