Fieldview Capital Management LLC Makes New $1.42 Million Investment in Broadcom Inc. $AVGO

Key Points

• Fieldview Capital bought a new stake of 4,304 Broadcom shares in Q3 valued at about $1.42 million, while institutional investors now own roughly 76.43% of the company.
• Broadcom reported a quarter with EPS $2.05 vs. $2.03 consensus and revenue of $19.31B (up 29.5% YoY), and the stock trades at a market cap of about $1.64 trillion with an average analyst price target near $435.30 ("Moderate Buy").
• Insiders have been net sellers recently (CEO and CFO sales part of 458,785 shares worth $155.5M in the last 90 days), and Broadcom pays a quarterly dividend of $0.65 ($2.60 annualized, ~0.8% yield) with a ~50.8% payout ratio.

Fieldview Capital Management LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,304 shares of the semiconductor manufacturer's stock, valued at approximately $1,420,000.

Several other institutional investors have also recently made changes to their positions in the business. JCIC Asset Management Inc. purchased a new stake in Broadcom during the third quarter valued at approximately $31,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $27,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the 2nd quarter worth $28,000. Manning & Napier Advisors LLC bought a new position in Broadcom in the 3rd quarter worth $34,000. Finally, New England Capital Financial Advisors LLC purchased a new position in Broadcom during the second quarter valued at $31,000. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

AVGO stock opened at $345.75 on Tuesday. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The company's fifty day moving average price is $333.68 and its 200-day moving average price is $343.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The company has a market capitalization of $1.64 trillion, a PE ratio of 67.53, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 30,000 shares of the firm's stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the completion of the transaction, the chief financial officer owned 277,237 shares in the company, valued at $96,428,573.34. This trade represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 130,000 shares of Broadcom stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $326.02, for a total value of $42,382,600.00. Following the completion of the sale, the chief executive officer directly owned 595,638 shares in the company, valued at $194,189,900.76. This trade represents a 17.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 458,785 shares of company stock valued at $155,508,157 in the last 90 days. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVGO. Susquehanna restated a "positive" rating and issued a $450.00 price target (up from $400.00) on shares of Broadcom in a research report on Thursday, December 4th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, December 13th. Royal Bank Of Canada decreased their target price on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating on the stock in a research note on Monday, March 2nd. Mizuho set a $480.00 price target on shares of Broadcom and gave the stock an "outperform" rating in a research report on Friday, January 9th. Finally, Citigroup raised their price objective on shares of Broadcom from $458.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $435.30.

About Broadcom

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.