Tree Line Advisors Hong Kong Ltd. Invests $52.46 Million in Broadcom Inc. $AVGO

Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 160,000 shares of the semiconductor manufacturer’s stock, valued at approximately $52,464,000. Broadcom makes up about 9.6% of Tree Line Advisors Hong Kong Ltd.’s holdings, making the stock its 5th largest holding.

A number of other hedge funds also recently bought and sold shares of AVGO. Capital Counsel LLC NY bought a new stake in shares of Broadcom in the second quarter worth about $221,000. Waterloo Capital L.P. increased its holdings in Broadcom by 7.0% during the 2nd quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after purchasing an additional 3,180 shares during the period. Providence First Trust Co raised its position in Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock valued at $2,944,000 after purchasing an additional 8,179 shares during the last quarter. Aspen Wealth Strategies LLC raised its position in Broadcom by 174.7% during the 2nd quarter. Aspen Wealth Strategies LLC now owns 23,673 shares of the semiconductor manufacturer’s stock valued at $6,525,000 after purchasing an additional 15,055 shares during the last quarter. Finally, RiverFront Investment Group LLC lifted its holdings in Broadcom by 107.6% in the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after buying an additional 8,566 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction dated Thursday, December 18th. The shares were purchased at an average cost of $325.13 per share, with a total value of $325,130.00. Following the transaction, the director directly owned 36,602 shares of the company’s stock, valued at $11,900,408.26. This represents a 2.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 70,000 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the completion of the transaction, the chief executive officer owned 132,836 shares of the company’s stock, valued at approximately $46,133,942.80. The trade was a 34.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 458,785 shares of company stock worth $155,508,157. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AVGO shares. Barclays reissued an “overweight” rating and set a $500.00 target price (up from $450.00) on shares of Broadcom in a research note on Friday, December 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $450.00 price target on shares of Broadcom in a research note on Monday, January 5th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday. Wolfe Research raised shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price objective on the stock in a research report on Friday, January 30th. Finally, Truist Financial upped their price objective on shares of Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $435.30.

Broadcom Stock Down 0.5%

Shares of NASDAQ:AVGO opened at $331.03 on Monday. The firm has a market capitalization of $1.57 trillion, a P/E ratio of 64.65, a P/E/G ratio of 0.77 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a 50 day moving average price of $333.75 and a 200-day moving average price of $343.49. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm’s revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.