HMS Capital Management LLC Acquires 28,753 Shares of Broadcom Inc. (NASDAQ:AVGO)

HMS Capital Management LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 916.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,889 shares of the semiconductor manufacturer's stock after buying an additional 28,753 shares during the quarter. Broadcom comprises approximately 2.7% of HMS Capital Management LLC's portfolio, making the stock its 8th biggest holding. HMS Capital Management LLC's holdings in Broadcom were worth $5,501,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. WealthPLAN Partners LLC grew its position in Broadcom by 122.6% during the first quarter. WealthPLAN Partners LLC now owns 1,202 shares of the semiconductor manufacturer's stock valued at $1,593,000 after acquiring an additional 662 shares during the period. Foyston Gordon & Payne Inc increased its position in Broadcom by 55.9% during the 1st quarter. Foyston Gordon & Payne Inc now owns 11,230 shares of the semiconductor manufacturer's stock worth $14,884,000 after purchasing an additional 4,026 shares in the last quarter. TCI Wealth Advisors Inc. increased its position in Broadcom by 3.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 503 shares of the semiconductor manufacturer's stock worth $666,000 after purchasing an additional 15 shares in the last quarter. Montag A & Associates Inc. raised its holdings in Broadcom by 9.2% in the first quarter. Montag A & Associates Inc. now owns 6,978 shares of the semiconductor manufacturer's stock valued at $9,249,000 after buying an additional 589 shares during the period. Finally, Nixon Peabody Trust Co. lifted its position in Broadcom by 12.5% during the first quarter. Nixon Peabody Trust Co. now owns 12,185 shares of the semiconductor manufacturer's stock valued at $16,150,000 after buying an additional 1,353 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were 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 of the company's stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 0.1 %

Shares of AVGO traded down $0.17 during trading hours on Friday, hitting $183.64. 13,503,154 shares of the company were exchanged, compared to its average volume of 18,921,780. The firm's 50 day moving average is $170.75 and its 200-day moving average is $157.78. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The company has a market cap of $857.71 billion, a PE ratio of 159.55, a PEG ratio of 2.11 and a beta of 1.17.

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 return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the company posted $0.95 earnings per share. The company's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Oppenheimer dropped their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, July 16th. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. Finally, Benchmark restated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

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.