Saiph Capital LLC Boosts Position in Broadcom Inc. $AVGO

Saiph Capital LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 21.0% during the 2nd quarter, Holdings Channel reports. The fund owned 9,859 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,714 shares during the period. Broadcom makes up about 0.9% of Saiph Capital LLC’s holdings, making the stock its 19th largest holding. Saiph Capital LLC’s holdings in Broadcom were worth $2,718,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AVGO. Brighton Jones LLC lifted its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its position in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank lifted its holdings in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after acquiring an additional 1,014 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Broadcom by 3.2% in 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 in the last quarter. Finally, Commonwealth Financial Services LLC grew its stake in shares of Broadcom by 3.9% during the 1st quarter. Commonwealth Financial Services LLC now owns 8,037 shares of the semiconductor manufacturer’s stock worth $1,346,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. UBS Group reissued a “buy” rating and set a $472.00 price target (up from $415.00) on shares of Broadcom in a report on Monday. Mizuho set a $435.00 target price on shares of Broadcom and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley restated an “overweight” rating and set a $443.00 target price (up from $409.00) on shares of Broadcom in a research report on Monday. Barclays set a $450.00 price target on Broadcom and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group set a $435.00 price target on Broadcom and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Three 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $391.04.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $331.14, for a total transaction 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 represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.1%

AVGO stock opened at $381.03 on Friday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $403.00. The business’s 50-day moving average is $355.68 and its 200 day moving average is $310.46. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.80 trillion, a price-to-earnings ratio of 97.20, a PEG ratio of 1.30 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the business posted $1.24 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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.