Princeton Capital Management LLC Acquires 23,668 Shares of Broadcom Inc. (NASDAQ:AVGO)

Princeton Capital Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,389.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,371 shares of the semiconductor manufacturer’s stock after purchasing an additional 23,668 shares during the period. Broadcom makes up about 1.4% of Princeton Capital Management LLC’s holdings, making the stock its 16th biggest position. Princeton Capital Management LLC’s holdings in Broadcom were worth $4,376,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stonebridge Capital Advisors LLC grew its position in shares of Broadcom by 18.9% in the first quarter. Stonebridge Capital Advisors LLC now owns 226 shares of the semiconductor manufacturer’s stock valued at $300,000 after purchasing an additional 36 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Broadcom by 80.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock valued at $1,189,000 after buying an additional 400 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Broadcom by 6.2% during the first quarter. Epoch Investment Partners Inc. now owns 395,266 shares of the semiconductor manufacturer’s stock valued at $523,890,000 after buying an additional 23,162 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Broadcom by 297.2% in the first quarter. Lazard Asset Management LLC now owns 523,732 shares of the semiconductor manufacturer’s stock worth $694,158,000 after buying an additional 391,877 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its position in shares of Broadcom by 75.5% in the first quarter. Steel Grove Capital Advisors LLC now owns 918 shares of the semiconductor manufacturer’s stock valued at $1,217,000 after acquiring an additional 395 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the business’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 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. The trade was a 3.62 % decrease in their position. 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 the stock in a transaction on 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 directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Truist Financial increased their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Rosenblatt Securities decreased their target price on 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 lifted 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. Finally, William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Stock Up 0.4 %

Shares of NASDAQ AVGO opened at $163.89 on Friday. The firm has a fifty day simple moving average of $173.77 and a two-hundred day simple moving average of $160.37. The firm has a market capitalization of $765.45 billion, a PE ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last posted 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm posted $0.95 EPS. The business’s revenue was up 47.3% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. Broadcom’s dividend payout ratio is 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.