Thematics Asset Management Boosts Stock Holdings in Broadcom Inc. $AVGO

Thematics Asset Management boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 91.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,842 shares of the semiconductor manufacturer’s stock after purchasing an additional 35,235 shares during the period. Thematics Asset Management’s holdings in Broadcom were worth $20,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. grew its stake in shares of Broadcom by 2.4% during the 2nd quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after purchasing an additional 39,466 shares during the period. Capital Counsel LLC NY purchased a new stake in Broadcom during the second quarter worth about $221,000. Waterloo Capital L.P. boosted its holdings in Broadcom by 7.0% during the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after buying an additional 3,180 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after buying an additional 13,978 shares during the period. Finally, RiverFront Investment Group LLC increased its holdings in Broadcom by 107.6% in the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after buying an additional 8,566 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $390.24 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market cap of $1.84 trillion, a PE ratio of 99.55, a P/E/G ratio of 1.33 and a beta of 1.19. The firm has a 50 day simple moving average of $356.79 and a 200-day simple moving average of $312.70. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $403.00.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom’s revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $331.14, for a total value of $264,912.00. Following the completion of the sale, the director owned 21,382 shares of the company’s stock, valued at $7,080,435.48. This trade represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 665,271 shares of company stock valued at $225,483,192. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AVGO shares. Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. KeyCorp set a $460.00 price objective on Broadcom in a report on Monday, October 13th. Oppenheimer reissued an “outperform” rating and issued a $435.00 target price (up previously from $400.00) on shares of Broadcom in a report on Friday. Raymond James Financial set a $420.00 price target on Broadcom and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, Benchmark boosted their price objective on shares of Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $391.04.

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.