Broadcom Inc. (NASDAQ:AVGO) is AlpInvest Partners B.V.’s 5th Largest Position

AlpInvest Partners B.V. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 350.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 124,531 shares of the semiconductor manufacturer’s stock after acquiring an additional 96,858 shares during the period. Broadcom comprises about 12.7% of AlpInvest Partners B.V.’s holdings, making the stock its 5th largest holding. AlpInvest Partners B.V.’s holdings in Broadcom were worth $21,482,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AVGO. Castleview Partners LLC lifted its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the period. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares during the period. Cedar Wealth Management LLC boosted its stake in Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after acquiring an additional 216 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in Broadcom in the third quarter worth about $42,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Broadcom during the third quarter valued at approximately $45,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.2 %

Broadcom stock opened at $164.23 on Friday. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a market cap of $767.05 billion, a P/E ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. 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 business has a 50-day simple moving average of $173.70 and a two-hundred day simple moving average of $160.62.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

Insider Activity at Broadcom

In other Broadcom 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AVGO. Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Rosenblatt Securities reduced their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Morgan Stanley upped their price target 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, TD Cowen upgraded shares of 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-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

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.