Broadcom Inc. (NASDAQ:AVGO) is Taika Capital LP’s 10th Largest Position

Taika Capital LP increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 782.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 29,055 shares of the semiconductor manufacturer’s stock after purchasing an additional 25,761 shares during the period. Broadcom makes up approximately 3.8% of Taika Capital LP’s investment portfolio, making the stock its 10th largest position. Taika Capital LP’s holdings in Broadcom were worth $5,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its position in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the period. FMR LLC boosted its position in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC boosted its position in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after buying an additional 30,674,902 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Broadcom by 962.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock valued at $5,519,591,000 after buying an additional 28,985,434 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.1 %

Shares of NASDAQ AVGO opened at $170.47 on Friday. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The company has a market capitalization of $796.19 billion, a PE ratio of 148.23, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. 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 firm’s 50-day moving average is $172.87 and its two-hundred day moving average is $162.51.

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 analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during 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 company’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Benchmark restated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $195.96.

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.