Broadcom Inc. (NASDAQ:AVGO) Position Raised by Arthur M. Cohen & Associates LLC

Arthur M. Cohen & Associates LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 924.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,120 shares of the semiconductor manufacturer's stock after acquiring an additional 3,718 shares during the quarter. Arthur M. Cohen & Associates LLC's holdings in Broadcom were worth $690,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AVGO. Castleview Partners LLC lifted its stake 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 buying an additional 134 shares in the last quarter. Delta Asset Management LLC TN lifted its stake 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 buying an additional 17 shares in the last quarter. Tsfg LLC lifted its stake 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 buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in Broadcom in the 3rd quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC purchased a new stake in Broadcom in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm'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 transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction that occurred on 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last quarter. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AVGO shares. Benchmark reissued a "buy" rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Oppenheimer reduced their price target on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 16th. StockNews.com lowered Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Finally, William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Stock Down 0.1 %

Shares of AVGO stock traded down $0.17 during trading hours on Friday, hitting $183.64. 13,491,305 shares of the company were exchanged, compared to its average volume of 29,781,646. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The business's 50-day simple moving average is $170.75 and its two-hundred day simple moving average is $157.78. The stock has a market capitalization of $857.71 billion, a price-to-earnings ratio of 159.55, a P/E/G ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) 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 business had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter last year, the company posted $0.95 earnings per share. The company's quarterly revenue was up 47.3% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) 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.