Carlson Capital Management Has $1.20 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Carlson Capital Management boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 957.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,982 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,322 shares during the quarter. Carlson Capital Management’s holdings in Broadcom were worth $1,204,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. CKW Financial Group grew its position in Broadcom by 971.4% in the 3rd quarter. CKW Financial Group now owns 300 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 272 shares during the period. Transamerica Financial Advisors Inc. lifted its stake in Broadcom by 317.1% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 6,477 shares of the semiconductor manufacturer’s stock valued at $1,118,000 after acquiring an additional 4,924 shares in the last quarter. Rock Point Advisors LLC lifted its stake in Broadcom by 865.1% during the 3rd quarter. Rock Point Advisors LLC now owns 66,265 shares of the semiconductor manufacturer’s stock valued at $11,431,000 after acquiring an additional 59,399 shares in the last quarter. Lazard Freres Gestion S.A.S. lifted its stake in Broadcom by 1,821.1% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 36,500 shares of the semiconductor manufacturer’s stock valued at $6,296,000 after acquiring an additional 34,600 shares in the last quarter. Finally, Principal Street Partners LLC lifted its stake in Broadcom by 36.2% during the 3rd quarter. Principal Street Partners LLC now owns 9,732 shares of the semiconductor manufacturer’s stock valued at $1,679,000 after acquiring an additional 2,586 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Stock Down 3.1 %

AVGO stock opened at $159.67 on Thursday. 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 firm has a market capitalization of $745.75 billion, a PE ratio of 138.72, a PEG ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The stock has a 50-day simple moving average of $173.72 and a two-hundred day simple moving average of $161.28.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous 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 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.33%. Broadcom’s payout ratio is presently 184.19%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value 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 approximately $126,754,425.60. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by corporate insiders.

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.