Chicago Partners Investment Group LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Chicago Partners Investment Group LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,060 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,419 shares during the period. Chicago Partners Investment Group LLC’s holdings in Broadcom were worth $2,856,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after buying an additional 2,085,534 shares during the period. Northern Trust Corp increased its stake in Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock valued at $11,018,089,000 after purchasing an additional 15,171,849 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Broadcom by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer’s stock valued at $7,975,616,000 after purchasing an additional 581,704 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Broadcom by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley set a $338.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a report on Wednesday, July 30th. Rosenblatt Securities upped their price objective on shares of Broadcom from $223.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Hsbc Global Res upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 24th. UBS Group lifted their target price on Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Broadcom in a research note on Thursday, July 10th. They set a “buy” rating and a $315.00 price target on the stock. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Buy” and a consensus price target of $294.92.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares of the company’s stock, valued at $105,353,335.68. The trade was a 10.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, the chief executive officer owned 1,014,152 shares of the company’s stock, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of AVGO opened at $303.76 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $310.34. The stock has a market cap of $1.43 trillion, a PE ratio of 113.77, a price-to-earnings-growth ratio of 2.15 and a beta of 1.15. The firm has a fifty day moving average price of $271.57 and a 200 day moving average price of $226.37.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $10.96 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is 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.