Rogco LP Has $2.38 Million Stock Holdings in Broadcom Inc. $AVGO

Rogco LP grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,212 shares of the semiconductor manufacturer’s stock after buying an additional 1,598 shares during the quarter. Broadcom accounts for approximately 0.8% of Rogco LP’s portfolio, making the stock its 19th biggest position. Rogco LP’s holdings in Broadcom were worth $2,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom in the second quarter valued at approximately $27,000. Legend Financial Advisors Inc. bought a new position in shares of Broadcom in the 2nd quarter worth $28,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom in the 2nd quarter valued at $28,000. LGT Financial Advisors LLC bought a new stake in Broadcom during the 2nd quarter valued at $31,000. Finally, New England Capital Financial Advisors LLC bought a new stake in Broadcom during the 2nd quarter valued at $31,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $324.85 on Tuesday. The stock has a 50 day moving average of $356.84 and a 200 day moving average of $336.51. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 68.25, a PEG ratio of 1.06 and a beta of 1.21. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The firm had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is currently 54.62%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Robert W. Baird set a $420.00 price target on shares of Broadcom in a research report on Friday, December 12th. Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Benchmark increased their price objective on Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Two equities research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $438.61.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $347.12, for a total value of $10,413,600.00. Following the sale, the insider directly owned 210,573 shares in the company, valued at $73,094,099.76. The trade was a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the transaction, the insider owned 23,582 shares of the company’s stock, valued at $7,730,179.60. The trade was a 7.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 779,901 shares of company stock worth $284,069,237 in the last three months. Insiders own 2.00% of the company’s stock.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.