Capital International Sarl Purchases 34,157 Shares of Broadcom Inc. $AVGO

Capital International Sarl raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,029,444 shares of the semiconductor manufacturer’s stock after acquiring an additional 34,157 shares during the period. Broadcom makes up 5.9% of Capital International Sarl’s portfolio, making the stock its 3rd biggest holding. Capital International Sarl’s holdings in Broadcom were worth $339,624,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Counsel LLC NY bought a new position in Broadcom during the second quarter worth about $221,000. Waterloo Capital L.P. increased its position in shares of Broadcom by 7.0% during the 2nd quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after purchasing an additional 3,180 shares in the last quarter. Providence First Trust Co increased its position in shares of Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock worth $2,944,000 after purchasing an additional 8,179 shares in the last quarter. Aspen Wealth Strategies LLC lifted its holdings in Broadcom by 174.7% during the 2nd quarter. Aspen Wealth Strategies LLC now owns 23,673 shares of the semiconductor manufacturer’s stock valued at $6,525,000 after purchasing an additional 15,055 shares during the last quarter. Finally, RiverFront Investment Group LLC boosted its position in Broadcom by 107.6% in the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after buying an additional 8,566 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 130,000 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $326.02, for a total value of $42,382,600.00. Following the transaction, the chief executive officer directly owned 595,638 shares of the company’s stock, valued at $194,189,900.76. This represents a 17.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares in the company, valued at approximately $96,428,573.34. The trade was a 9.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 458,785 shares of company stock worth $155,508,157 in the last three months. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $430.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, December 12th. Royal Bank Of Canada cut their price objective on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Robert W. Baird set a $420.00 target price on Broadcom in a report on Friday, December 12th. Bank of America lowered their target price on Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Oppenheimer upped their target price on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $435.30.

Broadcom Price Performance

AVGO opened at $345.75 on Tuesday. The stock has a market cap of $1.64 trillion, a P/E ratio of 67.53, a P/E/G ratio of 0.77 and a beta of 1.22. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $333.68 and a 200 day simple moving average of $343.89. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 EPS. On average, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a $0.65 dividend. The ex-dividend date is Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s payout ratio is presently 50.78%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.