Foundry Partners LLC Has $630,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Foundry Partners LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 835.9% in the third quarter, Holdings Channel reports. The institutional investor owned 3,650 shares of the semiconductor manufacturer’s stock after buying an additional 3,260 shares during the period. Foundry Partners LLC’s holdings in Broadcom were worth $630,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL raised its position in Broadcom by 80.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock worth $1,189,000 after purchasing an additional 400 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Broadcom by 11.8% in the first quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer’s stock valued at $276,000 after buying an additional 22 shares during the period. Caxton Associates LP raised its position in shares of Broadcom by 5,434.5% during the first quarter. Caxton Associates LP now owns 47,486 shares of the semiconductor manufacturer’s stock worth $62,938,000 after acquiring an additional 46,628 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Broadcom by 214.1% in the first quarter. Captrust Financial Advisors now owns 499,556 shares of the semiconductor manufacturer’s stock worth $662,117,000 after acquiring an additional 340,504 shares during the period. Finally, Waverly Advisors LLC boosted its holdings in Broadcom by 194.0% in the first quarter. Waverly Advisors LLC now owns 3,587 shares of the semiconductor manufacturer’s stock valued at $4,754,000 after acquiring an additional 2,367 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on AVGO. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Mizuho lifted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two investment 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. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Stock Up 0.2 %

AVGO opened at $164.23 on Friday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm has a market capitalization of $767.05 billion, a P/E ratio of 142.81, a PEG ratio of 1.93 and a beta of 1.17. The company’s 50-day moving average is $173.70 and its 200 day moving average is $160.62. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last released 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 return on equity of 30.12% and a net margin of 10.88%. 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 prior year, the company posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom’s dividend payout ratio is presently 184.35%.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

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.