Donaldson Capital Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 909.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 686,007 shares of the semiconductor manufacturer's stock after purchasing an additional 618,039 shares during the quarter. Broadcom comprises about 4.5% of Donaldson Capital Management LLC's holdings, making the stock its 2nd largest holding. Donaldson Capital Management LLC's holdings in Broadcom were worth $118,336,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Delta Asset Management LLC TN raised its position in Broadcom by 242.9% in the first 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 during the period. Clear Point Advisors Inc. raised its holdings in Broadcom by 310.0% in the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after buying an additional 31 shares during the period. Indiana Trust & Investment Management CO raised its holdings in Broadcom by 39.5% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after buying an additional 15 shares during the period. Creekmur Asset Management LLC boosted its position in shares of Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after purchasing an additional 35 shares during the period. Finally, Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Broadcom in the second quarter valued at $128,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Stock Performance
AVGO stock traded up $4.33 on Thursday, hitting $183.88. The company's stock had a trading volume of 13,179,859 shares, compared to its average volume of 29,831,672. The stock has a market cap of $858.83 billion, a price-to-earnings ratio of 159.90, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. The firm has a 50 day moving average of $169.80 and a two-hundred day moving average of $156.94. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1 year low of $89.90 and a 1 year high of $186.42.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm's revenue for the quarter was up 47.3% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.
Broadcom Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. Broadcom's payout ratio is presently 184.35%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on AVGO shares. Morgan Stanley increased their target price on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Oppenheimer lowered their target price on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $192.79.
Check Out Our Latest Stock Report on AVGO
Insider Transactions at Broadcom
In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 of the company's stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 2.00% of the stock is currently owned by company insiders.
About Broadcom
(
Free Report)
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.
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