Sachetta LLC Has $12.88 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Sachetta LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 908.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,021 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,226 shares during the period. Broadcom comprises 5.3% of Sachetta LLC’s holdings, making the stock its 4th largest holding. Sachetta LLC’s holdings in Broadcom were worth $12,878,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the period. Capital International Investors increased its position in shares of Broadcom by 4.5% during the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after buying an additional 1,006,223 shares during the period. Norges Bank acquired a new stake in shares of Broadcom during the fourth quarter worth $6,225,987,000. Northern Trust Corp increased its position in shares of Broadcom by 3.7% during the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock worth $5,386,425,000 after buying an additional 170,063 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after buying an additional 1,263,957 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $158.27 on Thursday. Broadcom Inc. has a 52 week low of $79.51 and a 52 week high of $185.16. The company’s 50 day moving average price is $188.37 and its two-hundred day moving average price is $156.34. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $736.73 billion, a P/E ratio of 6.81, a P/E/G ratio of 2.41 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the firm earned $0.95 EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 3.75 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.34%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AVGO shares. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Evercore ISI raised their price target on shares of Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Citigroup restated a “buy” rating and issued a $156.00 price target on shares of Broadcom in a report on Tuesday, June 11th. Finally, Wells Fargo & Company raised their price target on shares of Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, June 13th. 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. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target 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.