15,220 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. purchased 15,220 shares of Broadcom Inc. (NASDAQ:AVGO) valued at approximately $2.54 million, making it the 13th largest holding in their portfolio.
• Insider activity saw Director Henry Samueli sell 473,898 shares for over $125 million, indicating potential shifts in confidence at the executive level.
• Broadcom's stock has shown substantial growth with a 20.2% revenue increase year-over-year, and several analysts maintain a consensus buy rating with a target price of approximately $295.96.

Fox Run Management L.L.C. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,220 shares of the semiconductor manufacturer's stock, valued at approximately $2,548,000. Broadcom accounts for approximately 0.4% of Fox Run Management L.L.C.'s portfolio, making the stock its 13th largest holding.

A number of other hedge funds have also recently bought and sold shares of AVGO. Nuveen LLC purchased a new stake in shares of Broadcom during the 1st quarter worth about $6,649,117,000. GAMMA Investing LLC increased its position in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after buying an additional 17,181,652 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on AVGO shares. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Wall Street Zen lowered Broadcom from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group upped their price objective on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus price target of $295.96.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $274.30, for a total value of $219,440.00. Following the sale, the director owned 24,582 shares in the company, valued at approximately $6,742,842.60. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,716 shares of company stock worth $217,040,489 over the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $309.09 on Thursday. The stock has a market capitalization of $1.45 trillion, a PE ratio of 115.76, a P/E/G ratio of 2.22 and a beta of 1.15. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The business has a fifty day moving average price of $276.06 and a two-hundred day moving average price of $228.20. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the previous year, the firm earned $10.96 EPS. Broadcom's revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom's dividend payout ratio is presently 88.39%.

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.

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