Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,981 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,894 shares during the period. Broadcom comprises approximately 1.1% of E Fund Management Co. Ltd.’s holdings, making the stock its 17th largest position. E Fund Management Co. Ltd.’s holdings in Broadcom were worth $19,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Financial & Tax Architects LLC grew its position in Broadcom by 20.1% during the second quarter. Financial & Tax Architects LLC now owns 925 shares of the semiconductor manufacturer’s stock valued at $1,486,000 after purchasing an additional 155 shares in the last quarter. Perennial Investment Advisors LLC grew its position in Broadcom by 24.9% during the second quarter. Perennial Investment Advisors LLC now owns 1,710 shares of the semiconductor manufacturer’s stock valued at $2,745,000 after purchasing an additional 341 shares in the last quarter. Clearstead Trust LLC grew its position in Broadcom by 14.7% during the second quarter. Clearstead Trust LLC now owns 3,633 shares of the semiconductor manufacturer’s stock valued at $5,833,000 after purchasing an additional 466 shares in the last quarter. Virtu Financial LLC purchased a new position in Broadcom during the second quarter valued at approximately $2,116,000. Finally, Madison Wealth Partners Inc purchased a new position in Broadcom during the second quarter valued at approximately $221,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 0.9 %

Shares of Broadcom stock opened at $162.47 on Wednesday. The firm has a market capitalization of $756.28 billion, a PE ratio of 6.99, a price-to-earnings-growth 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 company’s fifty day moving average price is $157.17 and its two-hundred day moving average price is $146.21. Broadcom Inc. has a 52-week low of $79.51 and a 52-week high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, analysts expect that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.30%. Broadcom’s dividend payout ratio is presently 9.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Bank of America reissued a “buy” rating and issued a $215.00 target price (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Jefferies Financial Group boosted their target price on shares of Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares in the company, valued at approximately $4,809,714.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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.