Broadcom Inc. (NASDAQ:AVGO) Stock Position Boosted by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 3.7% in the second quarter, HoldingsChannel.com reports. The firm owned 395,603 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,167 shares during the period. Broadcom accounts for approximately 1.6% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 10th biggest holding. Royal London Asset Management Ltd.’s holdings in Broadcom were worth $635,152,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. TBH Global Asset Management LLC raised its position in shares of Broadcom by 29.2% in the 4th quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 145 shares during the last quarter. Gilbert & Cook Inc. increased its position in shares of Broadcom by 4.9% in the 4th quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock valued at $934,000 after acquiring an additional 39 shares during the period. Aveo Capital Partners LLC boosted its position in Broadcom by 15.9% in the fourth quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock valued at $512,000 after buying an additional 63 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in Broadcom by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after buying an additional 58 shares during the period. Finally, Gryphon Financial Partners LLC increased its holdings in Broadcom by 99.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after buying an additional 801 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO stock opened at $158.27 on Thursday. 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 company has a market capitalization of $736.73 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. The firm’s 50-day moving average is $188.37 and its two-hundred day moving average is $156.34. Broadcom Inc. has a 12 month low of $79.51 and a 12 month high of $185.16.

Broadcom (NASDAQ:AVGO) last released 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. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. Analysts predict that Broadcom Inc. will post 3.75 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Morgan Stanley upped 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. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Rosenblatt Securities lowered 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. TD Cowen lifted their price target on Broadcom from $175.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Benchmark restated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

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.