Arlington Capital Management Inc. Acquires 11,169 Shares of Broadcom Inc. (NASDAQ:AVGO)

Arlington Capital Management Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 875.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,445 shares of the semiconductor manufacturer's stock after acquiring an additional 11,169 shares during the period. Broadcom comprises about 1.8% of Arlington Capital Management Inc.'s portfolio, making the stock its 17th largest holding. Arlington Capital Management Inc.'s holdings in Broadcom were worth $2,147,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Nvwm LLC boosted its position in Broadcom by 17.1% during the first quarter. Nvwm LLC now owns 1,556 shares of the semiconductor manufacturer's stock worth $2,070,000 after purchasing an additional 227 shares during the period. Zevenbergen Capital Investments LLC boosted its holdings in shares of Broadcom by 5.7% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 31,700 shares of the semiconductor manufacturer's stock worth $42,015,000 after buying an additional 1,700 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in Broadcom in the 1st quarter valued at about $2,121,000. Illinois Municipal Retirement Fund raised its holdings in Broadcom by 26.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 26,844 shares of the semiconductor manufacturer's stock valued at $35,579,000 after acquiring an additional 5,584 shares during the period. Finally, Forsta AP Fonden lifted its position in Broadcom by 7.9% during the first quarter. Forsta AP Fonden now owns 121,964 shares of the semiconductor manufacturer's stock worth $161,652,000 after acquiring an additional 8,900 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the topic of several research reports. William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Rosenblatt Securities lowered their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. StockNews.com cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Morgan Stanley increased their target price 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. Two 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 stock. According to data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $0.17 during midday trading on Friday, reaching $183.64. 13,491,305 shares of the company were exchanged, compared to its average volume of 29,781,646. The stock's 50-day moving average price is $170.75 and its 200-day moving average price is $157.78. The stock has a market cap of $857.71 billion, a P/E ratio of 159.55, a PEG ratio of 1.99 and a beta of 1.17. 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 Inc. has a one year low of $90.31 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is currently 184.19%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company'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 value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is owned by insiders.

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.