Curi Capital LLC Boosts Position in Broadcom Inc. $AVGO

Curi Capital LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 46.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,319 shares of the semiconductor manufacturer’s stock after buying an additional 27,670 shares during the quarter. Curi Capital LLC’s holdings in Broadcom were worth $24,070,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares in the last quarter. United Bank boosted its stake in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the period. Dimensional Fund Advisors LP boosted its stake in Broadcom by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 10,241,379 shares of the semiconductor manufacturer’s stock valued at $1,714,546,000 after buying an additional 32,231 shares during the period. Finally, Liontrust Investment Partners LLP grew its position in Broadcom by 24.8% during the first quarter. Liontrust Investment Partners LLP now owns 265,923 shares of the semiconductor manufacturer’s stock worth $44,523,000 after buying an additional 52,802 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Henry Samueli sold 320,316 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the sale, the director directly owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $331.14, for a total value of $264,912.00. Following the transaction, the director owned 21,382 shares in the company, valued at approximately $7,080,435.48. The trade was a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 837,433 shares of company stock worth $303,900,352 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 11.4%

Shares of AVGO opened at $359.93 on Friday. The firm has a market cap of $1.70 trillion, a price-to-earnings ratio of 75.62, a PEG ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The firm has a 50 day moving average price of $363.17 and a 200-day moving average price of $317.38.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 38.82%. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.42 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is presently 49.58%.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. Evercore ISI raised their price target on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Raymond James Financial set a $420.00 target price on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Barclays reiterated an “overweight” rating and set a $500.00 target price (up from $450.00) on shares of Broadcom in a research report on Friday. Bank of America increased their price target on shares of Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a report on Friday. Finally, Cowen restated a “buy” rating on shares of Broadcom in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $435.85.

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.