Freemont Management S.A. Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Freemont Management S.A. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,000 shares of the semiconductor manufacturer's stock after buying an additional 16,200 shares during the quarter. Broadcom accounts for about 1.5% of Freemont Management S.A.'s holdings, making the stock its 19th biggest holding. Freemont Management S.A.'s holdings in Broadcom were worth $3,105,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Delta Asset Management LLC TN grew its position in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 17 shares during the last quarter. Clear Point Advisors Inc. boosted its position in Broadcom by 310.0% during the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock worth $54,000 after buying an additional 31 shares during the period. Indiana Trust & Investment Management CO grew its holdings in Broadcom by 39.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock worth $85,000 after acquiring an additional 15 shares during the last quarter. Creekmur Asset Management LLC grew its holdings in Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after acquiring an additional 35 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. acquired a new position in Broadcom in the 2nd quarter valued at approximately $128,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AVGO shares. Rosenblatt Securities reduced their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. 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 research report on Friday, September 6th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Finally, Morgan Stanley raised their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Two equities research 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. Based on data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the firm'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 sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO traded down $5.54 during midday trading on Friday, hitting $164.84. 20,836,160 shares of the company traded hands, compared to its average volume of 17,858,028. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The firm has a market cap of $769.90 billion, a P/E ratio of 143.21, a PEG ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a 50-day moving average of $172.84 and a 200-day moving average of $159.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 the consensus estimate of $12.98 billion. During the same period last year, the firm earned $0.95 EPS. The business's quarterly revenue was up 47.3% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

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.