Ameritas Advisory Services LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Ameritas Advisory Services LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 290.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,558 shares of the semiconductor manufacturer's stock after acquiring an additional 16,037 shares during the period. Ameritas Advisory Services LLC's holdings in Broadcom were worth $3,719,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Castleview Partners LLC raised its position in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Delta Asset Management LLC TN raised its position in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 17 shares in the last quarter. Tsfg LLC raised its position in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Broadcom in the 3rd quarter valued at about $42,000. Finally, Highline Wealth Partners LLC acquired a new stake in Broadcom in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Oppenheimer dropped their price objective on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, July 16th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Finally, Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Activity

In other news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company's stock, valued at $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last quarter. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

Broadcom stock traded down $0.17 during mid-day trading on Friday, hitting $183.64. 13,503,154 shares of the company were exchanged, compared to its average volume of 18,921,780. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business's 50 day simple moving average is $170.75 and its two-hundred day simple moving average is $157.78. The company has a market capitalization of $857.71 billion, a P/E ratio of 159.55, a PEG ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom's revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. Analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 184.19%.

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.