Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Systematic Alpha Investments LLC

Systematic Alpha Investments LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 899.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,551 shares of the semiconductor manufacturer’s stock after purchasing an additional 66,195 shares during the quarter. Broadcom comprises approximately 4.3% of Systematic Alpha Investments LLC’s holdings, making the stock its 5th biggest holding. Systematic Alpha Investments LLC’s holdings in Broadcom were worth $118,088,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. E Fund Management Co. Ltd. grew its holdings in shares of Broadcom by 18.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 11,981 shares of the semiconductor manufacturer’s stock worth $19,236,000 after purchasing an additional 1,894 shares during the period. Financial & Tax Architects LLC grew its stake in Broadcom by 20.1% during the second quarter. Financial & Tax Architects LLC now owns 925 shares of the semiconductor manufacturer’s stock worth $1,486,000 after buying an additional 155 shares during the period. Perennial Investment Advisors LLC increased its position in shares of Broadcom by 24.9% in the second quarter. Perennial Investment Advisors LLC now owns 1,710 shares of the semiconductor manufacturer’s stock worth $2,745,000 after acquiring an additional 341 shares in the last quarter. Clearstead Trust LLC raised its stake in shares of Broadcom by 14.7% in the 2nd quarter. Clearstead Trust LLC now owns 3,633 shares of the semiconductor manufacturer’s stock valued at $5,833,000 after acquiring an additional 466 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at $2,116,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on AVGO shares. Bank of America reiterated a “buy” rating and issued a $215.00 price target (up from $200.00) on shares of Broadcom in a report on Monday, June 24th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday. Rosenblatt Securities decreased their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Melius Research assumed coverage on shares of Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock. Finally, Piper Sandler boosted their target price on shares of Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Broadcom Stock Down 0.9 %

Shares of NASDAQ:AVGO opened at $162.47 on Wednesday. Broadcom Inc. has a 1-year low of $79.51 and a 1-year high of $185.16. The company’s fifty day moving average is $157.17 and its two-hundred day moving average is $146.21. 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 stock has a market capitalization of $756.28 billion, a price-to-earnings ratio of 6.99, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

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

Broadcom Increases Dividend

The business 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. 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 annualized dividend and a yield of 1.30%. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was 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 of the company’s stock, valued at $4,809,714.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated Thursday, July 11th. The shares were 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 owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.