FFG Partners LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

FFG Partners LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,158.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,975 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,818 shares during the period. Broadcom comprises about 0.1% of FFG Partners LLC’s investment portfolio, making the stock its 27th biggest position. FFG Partners LLC’s holdings in Broadcom were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AVGO. State Street Corp boosted its stake in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC boosted its position in shares of Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC grew its stake in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC grew its position in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 975.4% during 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 in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

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 transaction of $3,591,588.00. Following the completion of the sale, the insider now 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 through this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were 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 in the company, valued at approximately $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. Over the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AVGO. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Evercore ISI lifted their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Truist Financial raised their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Susquehanna upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $212.08.

Broadcom Stock Up 21.6 %

AVGO stock traded up $38.96 during midday trading on Friday, reaching $219.62. 35,125,671 shares of the company were exchanged, compared to its average volume of 29,061,914. The stock’s 50-day simple moving average is $173.65 and its 200 day simple moving average is $163.86. Broadcom Inc. has a 1-year low of $104.15 and a 1-year high of $221.21. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 187.19, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the company earned $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.07%. Broadcom’s dividend payout ratio is presently 184.19%.

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.