Capital International Ltd. CA Grows Stake in Broadcom Inc. $AVGO

Capital International Ltd. CA increased its position in Broadcom Inc. (NASDAQ:AVGO) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 464,914 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,836 shares during the period. Broadcom accounts for 5.5% of Capital International Ltd. CA’s portfolio, making the stock its 3rd biggest position. Capital International Ltd. CA’s holdings in Broadcom were worth $153,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank lifted its holdings in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC grew its stake in shares of Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after buying an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 30,000 shares of Broadcom stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares in the company, valued at $96,428,573.34. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, December 18th. The stock was purchased at an average price of $325.13 per share, with a total value of $325,130.00. Following the completion of the purchase, the director 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 SEC filing for this purchase provides additional information. Insiders have sold 458,785 shares of company stock valued at $155,508,157 over the last 90 days. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVGO. Barclays reissued an “overweight” rating and issued a $500.00 target price (up from $450.00) on shares of Broadcom in a research note on Friday, December 12th. UBS Group set a $475.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research note on Monday, December 15th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price objective on shares of Broadcom in a report on Monday, January 5th. Rosenblatt Securities increased their target price on Broadcom from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Citigroup boosted their target price on Broadcom from $458.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. One equities 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $435.30.

Broadcom Trading Up 4.6%

Shares of AVGO stock opened at $345.75 on Tuesday. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 67.53, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The stock’s 50-day moving average price is $333.68 and its 200-day moving average price is $343.89. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be issued a $0.65 dividend. The ex-dividend date is Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s payout ratio 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.