Broadcom Inc. $AVGO Holdings Increased by Valiant Capital Management L.P.

Valiant Capital Management L.P. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,740 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,700 shares during the quarter. Broadcom accounts for about 3.5% of Valiant Capital Management L.P.’s investment portfolio, making the stock its 8th biggest holding. Valiant Capital Management L.P.’s holdings in Broadcom were worth $64,706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares during the period. State Street Corp raised its holdings in shares of Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after purchasing an additional 873,963 shares during the last quarter. Geode Capital Management LLC lifted its position in Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after purchasing an additional 2,226,585 shares during the period. Norges Bank bought a new position in Broadcom during the second quarter valued at approximately $18,579,549,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares of the company’s stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 837,433 shares of company stock valued at $303,900,352. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.3%

Shares of AVGO stock opened at $406.29 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $407.29. The company’s fifty day moving average price is $359.78 and its 200-day moving average price is $315.15. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 103.65, a PEG ratio of 1.36 and a beta of 1.19.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVGO. Wall Street Zen cut Broadcom from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Morgan Stanley reissued an “overweight” rating and issued a $443.00 target price (up previously from $409.00) on shares of Broadcom in a report on Monday, December 1st. Wells Fargo & Company boosted their price target on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Bank of America increased their price objective on shares of Broadcom from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Finally, Piper Sandler raised their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Buy” and an average target price of $392.46.

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.