Simon Quick Advisors LLC Boosts Holdings in Broadcom Inc. $AVGO

Simon Quick Advisors LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,243 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,611 shares during the period. Simon Quick Advisors LLC’s holdings in Broadcom were worth $8,988,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. Arthur M. Cohen & Associates LLC increased its position in shares of Broadcom by 0.6% during the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after acquiring an additional 30 shares during the period. McHugh Group LLC grew its stake in Broadcom by 0.4% during the 3rd quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock worth $2,782,000 after purchasing an additional 31 shares in the last quarter. Redwood Financial Network Corp grew its stake in Broadcom by 1.7% during the 2nd quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer’s stock worth $535,000 after purchasing an additional 33 shares in the last quarter. BancFirst Trust & Investment Management increased its holdings in Broadcom by 2.9% during the 3rd quarter. BancFirst Trust & Investment Management now owns 1,235 shares of the semiconductor manufacturer’s stock worth $405,000 after purchasing an additional 35 shares during the period. Finally, Heritage Oak Wealth Advisors LLC raised its position in Broadcom by 4.4% in the 3rd quarter. Heritage Oak Wealth Advisors LLC now owns 837 shares of the semiconductor manufacturer’s stock valued at $276,000 after purchasing an additional 35 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the completion of the sale, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 25,921 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $352.07, for a total value of $9,126,006.47. Following the transaction, the insider owned 240,573 shares in the company, valued at $84,698,536.11. This represents a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 680,701 shares of company stock worth $249,624,757. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Robert W. Baird set a $420.00 price objective on Broadcom in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft set a $430.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Friday, December 12th. Benchmark boosted their price target on shares of Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, December 12th. UBS Group set a $475.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Rosenblatt Securities lifted their price objective on shares of Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $436.89.

Broadcom Stock Down 0.1%

Shares of NASDAQ:AVGO opened at $343.50 on Thursday. The firm has a 50 day simple moving average of $361.10 and a 200-day simple moving average of $329.81. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1.63 trillion, a PE ratio of 72.16, a P/E/G ratio of 1.16 and a beta of 1.21.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period last year, the firm posted $1.42 EPS. The company’s revenue was up 28.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. Broadcom’s payout ratio is presently 54.62%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.