Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Systematic Alpha Investments LLC

Systematic Alpha Investments LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 899.9% during the 2nd quarter, Holdings Channel reports. The firm owned 73,551 shares of the semiconductor manufacturer’s stock after purchasing an additional 66,195 shares during the period. Broadcom comprises 4.3% of Systematic Alpha Investments LLC’s investment portfolio, making the stock its 5th largest position. Systematic Alpha Investments LLC’s holdings in Broadcom were worth $118,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legend Financial Advisors Inc. boosted its holdings in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares in the last quarter. Richardson Capital Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth $29,000. Delta Asset Management LLC TN grew its holdings in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Broadcom during the first quarter worth $36,000. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of Broadcom during the first quarter valued at $37,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the transaction, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVGO. Wells Fargo & Company boosted their price objective on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, June 13th. The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Melius assumed coverage on shares of Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 target price on the stock. Oppenheimer reduced their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $189.23.

Broadcom Stock Performance

NASDAQ:AVGO opened at $162.47 on Wednesday. The firm has a market capitalization of $756.28 billion, a PE ratio of 6.99, a PEG ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a 1 year low of $79.51 and a 1 year high of $185.16. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm’s fifty day simple moving average is $157.17 and its 200 day simple moving average is $146.21.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is 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 1.30%. Broadcom’s payout ratio is 9.12%.

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.