Soros Capital Management LLC Purchases 26,298 Shares of Broadcom Inc. $AVGO

Soros Capital Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 242.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,150 shares of the semiconductor manufacturer’s stock after buying an additional 26,298 shares during the period. Broadcom makes up about 2.9% of Soros Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Soros Capital Management LLC’s holdings in Broadcom were worth $10,240,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vivaldi Capital Management LP grew its stake in shares of Broadcom by 6.1% during the 2nd quarter. Vivaldi Capital Management LP now owns 5,310 shares of the semiconductor manufacturer’s stock valued at $1,464,000 after purchasing an additional 306 shares during the period. Operose Advisors LLC lifted its stake in shares of Broadcom by 1.1% in the 2nd quarter. Operose Advisors LLC now owns 12,264 shares of the semiconductor manufacturer’s stock worth $3,381,000 after purchasing an additional 129 shares during the period. Ieq Capital LLC boosted its holdings in shares of Broadcom by 15.2% in the second quarter. Ieq Capital LLC now owns 537,093 shares of the semiconductor manufacturer’s stock worth $148,049,000 after buying an additional 70,904 shares during the last quarter. Main Street Financial Solutions LLC grew its position in Broadcom by 89.0% during the second quarter. Main Street Financial Solutions LLC now owns 21,053 shares of the semiconductor manufacturer’s stock valued at $5,803,000 after buying an additional 9,912 shares during the period. Finally, FWL Investment Management LLC increased its holdings in Broadcom by 8.9% during the second quarter. FWL Investment Management LLC now owns 1,133 shares of the semiconductor manufacturer’s stock valued at $312,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $406.37 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The business has a 50-day moving average price of $362.74 and a 200-day moving average price of $316.47. The firm has a market cap of $1.92 trillion, a price-to-earnings ratio of 103.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter last year, the company earned $1.42 EPS. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s payout ratio is presently 60.20%.

Insider Activity

In related news, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 837,433 shares of company stock valued at $303,900,352 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Macquarie assumed coverage on Broadcom in a research report on Monday, September 15th. They set an “outperform” rating and a $420.00 target price on the stock. KeyCorp set a $460.00 price target on Broadcom in a research report on Monday, October 13th. The Goldman Sachs Group set a $435.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.