Creekside Partners Buys Shares of 258 Broadcom Inc. (NASDAQ:AVGO)

Creekside Partners purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 258 shares of the semiconductor manufacturer’s stock, valued at approximately $414,000.

A number of other large investors also recently modified their holdings of AVGO. AXA S.A. raised its position in shares of Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after buying an additional 7,608 shares in the last quarter. Capital International Ltd. CA increased its position 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 valued at $87,367,000 after purchasing an additional 1,310 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of Broadcom by 19.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock worth $842,160,000 after buying an additional 84,196 shares in the last quarter. Shellback Capital LP acquired a new stake in shares of Broadcom in the second quarter valued at $60,368,000. Finally, NewEdge Advisors LLC grew its holdings in Broadcom by 13.7% during the second quarter. NewEdge Advisors LLC now owns 95,011 shares of the semiconductor manufacturer’s stock worth $152,542,000 after acquiring an additional 11,422 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 233,452 shares of company stock valued at $51,278,838. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVGO shares. Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Broadcom Stock Down 2.9 %

AVGO opened at $167.47 on Wednesday. Broadcom Inc. has a twelve month low of $80.89 and a twelve month high of $185.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The business has a 50 day moving average price of $158.30 and a 200 day moving average price of $148.82. The firm has a market cap of $779.55 billion, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. Research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Broadcom Company 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.