NCP Inc. Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

NCP Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 1,555.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,700 shares of the semiconductor manufacturer’s stock after buying an additional 7,235 shares during the quarter. Broadcom comprises about 0.8% of NCP Inc.’s holdings, making the stock its 19th largest position. NCP Inc.’s holdings in Broadcom were worth $1,328,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its position in shares of Broadcom by 166.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer’s stock worth $3,070,000 after acquiring an additional 1,446 shares in the last quarter. FSA Advisors Inc. purchased a new stake in Broadcom during the 1st quarter worth about $264,000. Cetera Investment Advisers lifted its holdings in Broadcom by 258.7% during the 1st quarter. Cetera Investment Advisers now owns 102,941 shares of the semiconductor manufacturer’s stock worth $136,438,000 after purchasing an additional 74,244 shares in the last quarter. Cetera Advisors LLC boosted its stake in Broadcom by 95.3% in the 1st quarter. Cetera Advisors LLC now owns 27,454 shares of the semiconductor manufacturer’s stock worth $36,387,000 after purchasing an additional 13,398 shares during the period. Finally, Cetera Advisor Networks LLC grew its holdings in Broadcom by 33.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 57,900 shares of the semiconductor manufacturer’s stock valued at $76,742,000 after buying an additional 14,664 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 3.1 %

NASDAQ AVGO opened at $159.67 on Thursday. The firm has a market cap of $745.75 billion, a PE ratio of 138.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The stock has a 50-day moving average of $173.72 and a 200-day moving average of $161.28. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The business’s revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts forecast 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 $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Morgan Stanley boosted their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.96.

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.