Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Excalibur Management Corp

Excalibur Management Corp raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 688 shares of the semiconductor manufacturer’s stock after acquiring an additional 92 shares during the period. Excalibur Management Corp’s holdings in Broadcom were worth $1,105,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AVGO. TBH Global Asset Management LLC lifted its stake in shares of Broadcom by 29.2% in the 4th quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 145 shares during the period. Gilbert & Cook Inc. raised its position in Broadcom by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock worth $934,000 after acquiring an additional 39 shares during the period. Aveo Capital Partners LLC raised its position in Broadcom by 15.9% during the fourth quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after acquiring an additional 63 shares during the period. 9258 Wealth Management LLC raised its position in Broadcom by 1.5% during the fourth quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after acquiring an additional 58 shares during the period. Finally, Gryphon Financial Partners LLC raised its position in Broadcom by 99.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after acquiring an additional 801 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 27,480 shares in the company, valued at $4,809,714.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction 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 transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 2,540 shares of Broadcom 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 transaction, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $164.02 on Tuesday. The firm has a market capitalization of $763.49 billion, a P/E ratio of 7.05, a P/E/G 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 has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm’s 50 day moving average is $157.41 and its two-hundred day moving average is $145.98.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. Research analysts forecast 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. Stockholders of record on Thursday, September 19th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein upped their price objective on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Mizuho upped their target price on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Citigroup reaffirmed a “buy” rating and set a $156.00 target price on shares of Broadcom in a report on Tuesday, June 11th. Melius assumed coverage on shares of Broadcom in a report on Monday, June 3rd. They set a “buy” rating and a $185.00 target price for the company. Finally, Oppenheimer dropped their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $189.23.

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.