Sycomore Asset Management Has $11.42 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Sycomore Asset Management grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 24.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,139 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,979 shares during the period. Broadcom accounts for approximately 2.5% of Sycomore Asset Management’s holdings, making the stock its 8th largest position. Sycomore Asset Management’s holdings in Broadcom were worth $11,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AVGO. BetterWealth LLC grew its stake in shares of Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after acquiring an additional 9 shares in the last quarter. Rise Advisors LLC grew its stake in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares in the last quarter. CX Institutional grew its stake in shares of Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after buying an additional 10 shares in the last quarter. Cascade Investment Group Inc. grew its stake in shares of Broadcom by 1.7% in the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after buying an additional 10 shares in the last quarter. Finally, Sabal Trust CO grew its stake in shares of Broadcom by 1.6% in the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Kirsten M. Spears sold 3,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total transaction of $4,029,420.00. Following the completion of the sale, the chief financial officer now directly owns 43,459 shares of the company’s stock, valued at approximately $58,371,521.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVGO. Barclays lifted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Evercore ISI initiated coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. Finally, Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Up 0.6 %

NASDAQ:AVGO traded up $7.63 on Wednesday, reaching $1,256.82. 2,007,720 shares of the stock traded hands, compared to its average volume of 2,940,795. The firm has a market capitalization of $582.44 billion, a price-to-earnings ratio of 46.58, a price-to-earnings-growth ratio of 2.50 and a beta of 1.25. The company’s 50 day moving average is $1,304.15 and its 200-day moving average is $1,129.53. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the business earned $9.83 EPS. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.