Seven Eight Capital LP purchased a new stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,356 shares of the semiconductor manufacturer’s stock, valued at approximately $2,177,000.
Several other hedge funds also recently added to or reduced their stakes in the business. Barry Investment Advisors LLC purchased a new stake in shares of Broadcom during the 4th quarter worth about $228,000. Capital International Ltd. CA boosted its stake in shares of Broadcom by 1.7% during the 4th quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock worth $87,367,000 after acquiring an additional 1,310 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new stake in shares of Broadcom during the 4th quarter worth about $2,238,000. Gryphon Financial Partners LLC boosted its stake in shares of Broadcom by 99.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after acquiring an additional 801 shares in the last quarter. Finally, Steward Partners Investment Solutions LLC purchased a new stake in shares of Broadcom during the 4th quarter worth about $2,205,000. 76.43% of the stock is owned by hedge funds and other institutional investors.
Broadcom Stock Down 0.5 %
Shares of NASDAQ AVGO opened at $161.67 on Thursday. The company has a 50 day simple moving average of $156.94 and a 200-day simple moving average of $146.43. The company has a market capitalization of $752.55 billion, a P/E ratio of 6.95, a P/E/G ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1 year low of $79.51 and a 1 year high of $185.16.
Broadcom Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.
Insider Buying and Selling
In related news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
AVGO has been the topic of several recent analyst reports. Melius initiated coverage on shares of Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 target price on the stock. Bank of America restated a “buy” rating and set a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Melius Research initiated coverage on shares of Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price target for the company. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Barclays upped their price target on shares of Broadcom from $150.00 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.23.
Read Our Latest Research Report on AVGO
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.
See Also
- Five stocks we like better than Broadcom
- Ride Out The Recession With These Dividend Kings
- How Much Can You Make in Stocks in One Month?
- 3 Tickers Leading a Meme Stock Revival
- This Is the Top Large-Cap Stock Insiders Are Buying
- What is a Bond Market Holiday? How to Invest and Trade
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.