Seascape Capital Management Buys 12,240 Shares of Broadcom Inc. (NASDAQ:AVGO)

Seascape Capital Management boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 889.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,616 shares of the semiconductor manufacturer's stock after buying an additional 12,240 shares during the quarter. Seascape Capital Management's holdings in Broadcom were worth $2,349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB increased its stake in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Broadcom by 917.8% during the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock valued at $2,203,837,000 after acquiring an additional 11,453,554 shares during the period. Raymond James & Associates lifted its stake in shares of Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock valued at $2,186,292,000 after buying an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Broadcom by 226,130.5% in the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer's stock worth $14,224,520,000 after purchasing an additional 8,242,455 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Broadcom by 1,045.4% in the 3rd quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer's stock worth $1,427,120,000 after buying an additional 7,550,878 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 1.5 %

Shares of Broadcom stock traded down $2.69 on Tuesday, reaching $176.22. The company had a trading volume of 15,851,368 shares, compared to its average volume of 29,661,205. The firm has a market cap of $823.05 billion, a price-to-earnings ratio of 153.54, a P/E/G ratio of 2.16 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 firm's 50-day moving average price is $171.08 and its two-hundred day moving average price is $158.17. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. Broadcom's dividend payout ratio is 184.19%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was 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 of the company's stock, valued at $204,399,515.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company'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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AVGO shares. Oppenheimer dropped their target price 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. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the company 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price 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.