Rathbones Group PLC Has $7.50 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Rathbones Group PLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 23.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,674 shares of the semiconductor manufacturer’s stock after buying an additional 889 shares during the quarter. Rathbones Group PLC’s holdings in Broadcom were worth $7,504,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. increased its position in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares during the last quarter. Richardson Capital Management LLC acquired a new position in Broadcom during the first quarter worth approximately $29,000. Delta Asset Management LLC TN increased its position in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom during the first quarter worth approximately $36,000. Finally, Ulland Investment Advisors LLC acquired a new position in Broadcom during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their price objective on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Melius initiated coverage on Broadcom in a report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of Broadcom in a report on Friday, September 6th. Barclays boosted their price objective on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Finally, Evercore ISI boosted their price objective on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 2,540 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now directly owns 27,480 shares in the company, valued at $4,809,714.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Justine Page sold 2,540 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now directly owns 27,480 shares in the company, valued at $4,809,714.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction on 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 $235,746,936.45. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.9 %

Shares of AVGO opened at $167.69 on Monday. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16. The company has a market cap of $780.58 billion, a P/E ratio of 7.21, a P/E/G ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $188.15 and a two-hundred day simple moving average of $157.03.

Broadcom (NASDAQ:AVGO) last announced 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 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 company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. Research analysts forecast that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

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

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.