Capricorn Fund Managers Ltd Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Capricorn Fund Managers Ltd bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,100 shares of the semiconductor manufacturer’s stock, valued at approximately $2,689,000. Broadcom makes up approximately 1.0% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its 23rd largest holding.

Other large investors have also made changes to their positions in the company. Royal Fund Management LLC raised its stake in shares of Broadcom by 11.5% in the second quarter. Royal Fund Management LLC now owns 4,477 shares of the semiconductor manufacturer’s stock valued at $3,884,000 after acquiring an additional 462 shares during the last quarter. Darwin Wealth Management LLC boosted its stake in Broadcom by 18.4% in the second quarter. Darwin Wealth Management LLC now owns 406 shares of the semiconductor manufacturer’s stock worth $358,000 after purchasing an additional 63 shares in the last quarter. FSM Wealth Advisors LLC boosted its stake in Broadcom by 15.5% in the second quarter. FSM Wealth Advisors LLC now owns 1,319 shares of the semiconductor manufacturer’s stock worth $1,164,000 after purchasing an additional 177 shares in the last quarter. Guardian Financial Partners LLC bought a new stake in shares of Broadcom during the second quarter worth $299,000. Finally, MJP Associates Inc. ADV acquired a new stake in shares of Broadcom in the second quarter valued at $551,000. Institutional investors own 78.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AVGO shares. BMO Capital Markets increased their price objective on shares of Broadcom from $890.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. Oppenheimer raised their price target on shares of Broadcom from $900.00 to $990.00 and gave the company an “outperform” rating in a report on Friday, September 1st. StockNews.com raised Broadcom from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Needham & Company LLC lifted their target price on Broadcom from $33.00 to $44.00 in a research note on Friday, September 1st. Finally, Piper Sandler upped their price target on Broadcom from $830.00 to $925.00 and gave the company an “overweight” rating in a research note on Tuesday, August 29th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $846.14.

Insider Activity at Broadcom

In other news, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the transaction, the director now directly owns 15,951 shares in the company, valued at approximately $13,909,750.53. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the completion of the transaction, the director now owns 9,123 shares in the company, valued at approximately $7,806,368.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Check Kian Low bought 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the acquisition, the director now directly owns 15,951 shares of the company’s stock, valued at approximately $13,909,750.53. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

Broadcom Price Performance

NASDAQ AVGO opened at $850.00 on Tuesday. The stock has a market cap of $350.83 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.78 and a beta of 1.10. Broadcom Inc. has a 52-week low of $415.07 and a 52-week high of $923.67. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.25 and a current ratio of 2.50. The business has a 50 day simple moving average of $875.05 and a 200 day simple moving average of $763.54.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating the consensus estimate of $10.43 by $0.11. The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.07 EPS. Analysts anticipate that Broadcom Inc. will post 37.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be issued a dividend of $4.60 per share. The ex-dividend date is Wednesday, September 20th. This represents a $18.40 dividend on an annualized basis and a dividend yield of 2.16%. Broadcom’s payout ratio is presently 56.58%.

Broadcom Company 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.