Broadcom Inc. (NASDAQ:AVGO) is Blue Whale Capital LLP’s 3rd Largest Position

Blue Whale Capital LLP lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 109.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,465 shares of the semiconductor manufacturer’s stock after buying an additional 32,665 shares during the period. Broadcom makes up approximately 8.8% of Blue Whale Capital LLP’s investment portfolio, making the stock its 3rd biggest holding. Blue Whale Capital LLP’s holdings in Broadcom were worth $100,289,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. boosted its position in Broadcom by 9.8% in the second quarter. Sei Investments Co. now owns 268,735 shares of the semiconductor manufacturer’s stock valued at $431,479,000 after buying an additional 23,949 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Broadcom by 1.4% in the 2nd quarter. Pacer Advisors Inc. now owns 69,557 shares of the semiconductor manufacturer’s stock valued at $111,676,000 after acquiring an additional 931 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Broadcom by 7.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 169,357 shares of the semiconductor manufacturer’s stock worth $271,908,000 after acquiring an additional 12,378 shares during the period. AE Wealth Management LLC increased its stake in shares of Broadcom by 20.5% in the second quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock worth $7,515,000 after acquiring an additional 797 shares during the period. Finally, DCF Advisers LLC acquired a new position in Broadcom during the second quarter valued at $1,565,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVGO. Mizuho increased their price target on Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Truist Financial lifted their price target on Broadcom from $156.60 to $204.50 and gave the company a “buy” rating in a research note on Thursday, June 13th. Sanford C. Bernstein lifted their price target on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Morgan Stanley lifted their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Piper Sandler upped their price target 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 investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Broadcom Stock Up 2.2 %

NASDAQ:AVGO opened at $171.10 on Friday. Broadcom Inc. has a 52 week low of $79.51 and a 52 week high of $185.16. The stock’s fifty day moving average is $156.81 and its two-hundred day moving average is $146.91. The stock has a market capitalization of $796.45 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Research 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. Investors of record on Thursday, September 19th will be issued 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 dividend on an annualized basis and a yield of 1.24%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction on 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 directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Broadcom Profile

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.