Sei Investments Co. Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Sei Investments Co. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,735 shares of the semiconductor manufacturer’s stock after purchasing an additional 23,949 shares during the quarter. Broadcom accounts for approximately 0.6% of Sei Investments Co.’s portfolio, making the stock its 24th largest position. Sei Investments Co. owned about 0.06% of Broadcom worth $431,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings in shares of Broadcom by 1.4% during the second quarter. Pacer Advisors Inc. now owns 69,557 shares of the semiconductor manufacturer’s stock worth $111,676,000 after purchasing an additional 931 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Broadcom by 7.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 169,357 shares of the semiconductor manufacturer’s stock worth $271,908,000 after buying an additional 12,378 shares in the last quarter. AE Wealth Management LLC boosted its stake in Broadcom by 20.5% in the second quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock worth $7,515,000 after buying an additional 797 shares in the last quarter. DCF Advisers LLC purchased a new stake in Broadcom in the second quarter worth approximately $1,565,000. Finally, King Luther Capital Management Corp boosted its stake in Broadcom by 1.6% in the second quarter. King Luther Capital Management Corp now owns 139,385 shares of the semiconductor manufacturer’s stock worth $223,787,000 after buying an additional 2,205 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 2.2 %

Broadcom stock opened at $171.10 on Friday. The stock has a market capitalization of $796.45 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. 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 business’s fifty day moving average is $156.81 and its 200 day moving average is $146.91. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 return on equity of 30.12% and a net margin of 10.88%. The firm 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 earned $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction that occurred on Thursday, July 11th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 in the company, valued at approximately $217,594,136.70. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of several research reports. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Oppenheimer dropped their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Jefferies Financial Group increased their price objective on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Wells Fargo & Company increased their price objective on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Finally, Barclays increased their price objective on Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

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.