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

Carlson Capital Management raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 957.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,982 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,322 shares during the period. Carlson Capital Management’s holdings in Broadcom were worth $1,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CKW Financial Group increased its holdings in shares of Broadcom by 971.4% in the third 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 last quarter. Transamerica Financial Advisors Inc. grew its stake in shares of Broadcom by 317.1% in the third 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 grew its stake in shares of Broadcom by 865.1% in the third 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. grew its stake in shares of Broadcom by 1,821.1% in the third 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 grew its stake in shares of Broadcom by 36.2% in the third 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. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’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 transaction 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 3.1 %

Broadcom stock opened at $159.67 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The firm has a 50 day moving average price of $173.72 and a two-hundred day moving average price of $161.28. The firm has a market cap of $745.75 billion, a price-to-earnings ratio of 138.72, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business earned $0.95 EPS. The company’s revenue was up 47.3% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 1.33%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research reports. Truist Financial upped their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reduced their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Mizuho increased their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $195.96.

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.