STF Management LP Has $11.91 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

STF Management LP cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,416 shares of the semiconductor manufacturer’s stock after selling 361 shares during the period. Broadcom makes up about 5.0% of STF Management LP’s holdings, making the stock its 5th biggest position. STF Management LP’s holdings in Broadcom were worth $11,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new stake in shares of Broadcom in the first quarter worth $2,835,737,000. Vanguard Group Inc. boosted its position in Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Jennison Associates LLC grew its stake in Broadcom by 43.9% during the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after acquiring an additional 1,263,957 shares in the last quarter. Capital International Investors boosted its holdings in shares of Broadcom by 4.5% during the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after purchasing an additional 1,006,223 shares during the period. Finally, GQG Partners LLC lifted its position in Broadcom by 48.9% in the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after buying an additional 983,328 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AVGO shares. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Mizuho boosted their target price on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Citigroup reaffirmed a “buy” rating and set a $156.00 price target on shares of Broadcom in a research note on Tuesday, June 11th. Jefferies Financial Group boosted their price target on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Finally, UBS Group cut their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $189.23.

Insiders Place Their Bets

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

Broadcom Trading Up 1.9 %

Shares of Broadcom stock opened at $167.69 on Monday. Broadcom Inc. has a 1 year low of $79.51 and a 1 year high of $185.16. The company’s fifty day simple moving average is $188.15 and its 200-day simple moving average is $157.03. The company has a market cap of $780.58 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 2.55 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted 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. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be issued a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.26%. Broadcom’s dividend payout ratio is 9.12%.

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.