Blackhawk Capital Partners LLC. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 899.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,198 shares of the semiconductor manufacturer's stock after acquiring an additional 12,777 shares during the period. Broadcom comprises 1.3% of Blackhawk Capital Partners LLC.'s portfolio, making the stock its 25th largest position. Blackhawk Capital Partners LLC.'s holdings in Broadcom were worth $2,449,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC increased its position in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Swedbank AB boosted its stake in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Swiss National Bank increased its position in shares of Broadcom by 907.0% during the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer's stock valued at $2,264,223,000 after buying an additional 11,822,467 shares during the period. Van ECK Associates Corp raised its stake in Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock worth $2,203,837,000 after buying an additional 11,453,554 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Broadcom by 855.4% in the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock worth $2,186,292,000 after buying an additional 11,347,563 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Price Performance
Shares of NASDAQ:AVGO opened at $164.23 on Friday. 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 firm has a market cap of $767.05 billion, a price-to-earnings ratio of 142.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The business has a 50-day simple moving average of $173.70 and a two-hundred day simple moving average of $160.62. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The firm's quarterly revenue was up 47.3% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.
Broadcom Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom's dividend payout ratio (DPR) is presently 184.35%.
Insider Activity at Broadcom
In related news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Benchmark reissued a "buy" rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. The Goldman Sachs Group increased their price objective on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.
Check Out Our Latest Stock Analysis on Broadcom
About Broadcom
(
Free Report)
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.
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