Sargent Investment Group LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Sargent Investment Group LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 961.3% during the third quarter, Holdings Channel.com reports. The fund owned 3,980 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,605 shares during the period. Sargent Investment Group LLC’s holdings in Broadcom were worth $687,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Hillsdale Investment Management Inc. lifted its holdings in shares of Broadcom by 35.5% during the first quarter. Hillsdale Investment Management Inc. now owns 420 shares of the semiconductor manufacturer’s stock worth $557,000 after purchasing an additional 110 shares during the period. PAX Financial Group LLC lifted its holdings in shares of Broadcom by 16.8% during the first quarter. PAX Financial Group LLC now owns 230 shares of the semiconductor manufacturer’s stock worth $305,000 after purchasing an additional 33 shares during the period. Delta Asset Management LLC TN lifted its holdings in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the period. PYA Waltman Capital LLC lifted its holdings in shares of Broadcom by 1.1% during the first quarter. PYA Waltman Capital LLC now owns 2,071 shares of the semiconductor manufacturer’s stock worth $2,744,000 after purchasing an additional 23 shares during the period. Finally, Capitolis Liquid Global Markets LLC lifted its holdings in shares of Broadcom by 2,234.0% during the first quarter. Capitolis Liquid Global Markets LLC now owns 116,700 shares of the semiconductor manufacturer’s stock worth $154,675,000 after purchasing an additional 111,700 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Mizuho boosted their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Benchmark reissued a “buy” rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Activity

In other news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $164.84 on Monday. The business has a 50 day simple moving average of $172.84 and a two-hundred day simple moving average of $159.35. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The stock has a market capitalization of $769.90 billion, a P/E ratio of 143.21, a PEG ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 return on equity of 30.12% and a net margin of 10.88%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom’s dividend payout ratio is 184.19%.

About Broadcom

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.