Sapient Capital LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Sapient Capital LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,974 shares of the semiconductor manufacturer’s stock, valued at approximately $75,876,000. Broadcom accounts for approximately 1.9% of Sapient Capital LLC’s portfolio, making the stock its 9th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp raised its stake in Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after purchasing an additional 93,615 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after buying an additional 1,228,755 shares during the last quarter. FMR LLC lifted its stake in shares of Broadcom by 16.7% in the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after buying an additional 573,826 shares during the period. International Assets Investment Management LLC grew its position in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after buying an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after acquiring an additional 514,120 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 3.2 %

Shares of AVGO stock traded up $39.54 on Friday, reaching $1,278.11. 2,489,755 shares of the stock were exchanged, compared to its average volume of 2,435,058. The stock has a 50 day moving average price of $1,308.66 and a 200 day moving average price of $1,147.78. The stock has a market cap of $592.30 billion, a PE ratio of 47.37, a P/E/G ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the company posted $9.83 EPS. Equities research analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AVGO shares. Evercore ISI began coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective on the stock. Susquehanna raised their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Finally, TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

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.