Harvard Management Co. Inc. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Harvard Management Co. Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,661.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 519,500 shares of the semiconductor manufacturer’s stock after acquiring an additional 490,000 shares during the period. Broadcom makes up about 5.2% of Harvard Management Co. Inc.’s portfolio, making the stock its 8th largest holding. Harvard Management Co. Inc.’s holdings in Broadcom were worth $89,614,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AVGO. Castleview Partners LLC boosted its stake in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Tsfg LLC boosted its position in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares in the last quarter. Cedar Wealth Management LLC grew its stake in shares of 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 buying an additional 216 shares during the last quarter. Finally, Krane Funds Advisors LLC bought a new stake in shares of Broadcom during the third quarter worth $42,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This represents a 11.26 % 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 valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $195.96.

Broadcom Stock Performance

NASDAQ:AVGO opened at $162.08 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a fifty day moving average of $173.39 and a 200-day moving average of $161.69. The firm has a market capitalization of $757.01 billion, a P/E ratio of 140.82, a P/E/G ratio of 1.88 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 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.