Applied Finance Capital Management LLC Acquires 35,070 Shares of Broadcom Inc. (NASDAQ:AVGO)

Applied Finance Capital Management LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 817.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,360 shares of the semiconductor manufacturer's stock after acquiring an additional 35,070 shares during the quarter. Applied Finance Capital Management LLC's holdings in Broadcom were worth $6,790,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Holistic Planning LLC lifted its holdings in Broadcom by 1,039.7% in the third quarter. Holistic Planning LLC now owns 5,881 shares of the semiconductor manufacturer's stock valued at $1,014,000 after acquiring an additional 5,365 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Broadcom in the third quarter valued at $5,818,000. Equitable Trust Co. increased its position in shares of Broadcom by 1,011.2% in the third quarter. Equitable Trust Co. now owns 38,349 shares of the semiconductor manufacturer's stock valued at $6,615,000 after buying an additional 34,898 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Broadcom by 786.7% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,709,055 shares of the semiconductor manufacturer's stock valued at $294,742,000 after buying an additional 1,516,316 shares in the last quarter. Finally, Source Financial Advisors LLC increased its position in shares of Broadcom by 890.3% in the third quarter. Source Financial Advisors LLC now owns 5,437 shares of the semiconductor manufacturer's stock valued at $938,000 after buying an additional 4,888 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 over the last ninety days. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating for the company. Benchmark reissued a "buy" rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Rosenblatt Securities lowered their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, Morgan Stanley increased their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $2.69 during midday trading on Tuesday, reaching $176.22. The company had a trading volume of 15,851,368 shares, compared to its average volume of 29,661,205. The stock has a market cap of $823.05 billion, a P/E ratio of 153.54, a P/E/G ratio of 2.16 and a beta of 1.17. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company's 50 day moving average price is $171.08 and its 200 day moving average price is $158.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company's revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend yield of 1.20%. Broadcom's dividend payout ratio is currently 184.19%.

Broadcom Company 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.