STF Management LP Has $11.63 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

STF Management LP increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 809.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,418 shares of the semiconductor manufacturer’s stock after purchasing an additional 60,002 shares during the period. Broadcom accounts for 5.2% of STF Management LP’s portfolio, making the stock its 4th largest holding. STF Management LP’s holdings in Broadcom were worth $11,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of AVGO. CFS Investment Advisory Services LLC grew its holdings in Broadcom by 886.3% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 29,985 shares of the semiconductor manufacturer’s stock worth $5,172,000 after acquiring an additional 26,945 shares during the period. Raymond James Trust N.A. grew its holdings in Broadcom by 893.8% during the 3rd quarter. Raymond James Trust N.A. now owns 256,130 shares of the semiconductor manufacturer’s stock worth $44,183,000 after acquiring an additional 230,356 shares during the period. AlphaCore Capital LLC grew its holdings in Broadcom by 1,001.5% during the 3rd quarter. AlphaCore Capital LLC now owns 8,955 shares of the semiconductor manufacturer’s stock worth $1,545,000 after acquiring an additional 8,142 shares during the period. First County Bank CT grew its holdings in Broadcom by 907.3% during the 3rd quarter. First County Bank CT now owns 13,447 shares of the semiconductor manufacturer’s stock worth $2,320,000 after acquiring an additional 12,112 shares during the period. Finally, Otter Creek Advisors LLC grew its holdings in Broadcom by 535.0% during the 3rd quarter. Otter Creek Advisors LLC now owns 25,910 shares of the semiconductor manufacturer’s stock worth $4,469,000 after acquiring an additional 21,830 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on AVGO shares. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Truist Financial boosted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.96.

Broadcom Trading Up 0.2 %

Shares of NASDAQ:AVGO opened at $164.23 on Monday. The company’s 50-day moving average price is $173.70 and its two-hundred day moving average price is $160.62. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The stock has a market capitalization of $767.05 billion, a PE ratio of 142.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom’s payout ratio is 184.35%.

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.