160,000 Shares in Broadcom Inc. $AVGO Acquired by Tree Line Advisors Hong Kong Ltd.

Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 160,000 shares of the semiconductor manufacturer’s stock, valued at approximately $52,464,000. Broadcom makes up approximately 9.6% of Tree Line Advisors Hong Kong Ltd.’s holdings, making the stock its 5th largest position.

Several other hedge funds have also added to or reduced their stakes in the stock. Fieldview Capital Management LLC bought a new stake in Broadcom in the third quarter worth $1,420,000. WINTON GROUP Ltd increased its holdings in shares of Broadcom by 223.2% during the third quarter. WINTON GROUP Ltd now owns 34,195 shares of the semiconductor manufacturer’s stock valued at $11,281,000 after acquiring an additional 23,615 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. raised its position in shares of Broadcom by 13.8% in the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 12,506 shares of the semiconductor manufacturer’s stock worth $4,126,000 after purchasing an additional 1,517 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Broadcom by 6.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,867,243 shares of the semiconductor manufacturer’s stock worth $1,275,355,000 after purchasing an additional 233,106 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Broadcom by 5.0% in the 3rd quarter. Schroder Investment Management Group now owns 9,972,960 shares of the semiconductor manufacturer’s stock worth $3,290,179,000 after purchasing an additional 474,093 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 38,281 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the completion of the sale, the insider directly owned 266,494 shares in the company, valued at $87,316,759.10. The trade was a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the sale, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. The trade was a 9.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 458,785 shares of company stock valued at $155,508,157. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird set a $420.00 price target on shares of Broadcom in a report on Friday, December 12th. Barclays reaffirmed an “overweight” rating and issued a $500.00 price objective (up from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Rosenblatt Securities increased their target price on Broadcom from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group set a $475.00 target price on Broadcom and gave the stock a “buy” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $435.30.

Broadcom Trading Down 0.5%

NASDAQ:AVGO opened at $331.03 on Monday. The company has a market cap of $1.57 trillion, a PE ratio of 64.65, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The company has a 50 day simple moving average of $333.75 and a two-hundred day simple moving average of $343.49. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The firm had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company’s revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 EPS. Research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s dividend payout ratio is currently 50.78%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.