Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Laffer Tengler Investments Inc.

Laffer Tengler Investments Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 830.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,830 shares of the semiconductor manufacturer's stock after buying an additional 93,563 shares during the period. Broadcom comprises 3.7% of Laffer Tengler Investments Inc.'s investment portfolio, making the stock its 2nd biggest holding. Laffer Tengler Investments Inc.'s holdings in Broadcom were worth $18,083,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Forge First Asset Management Inc. acquired a new stake in Broadcom during the 1st quarter valued at $8,808,000. M&G Plc acquired a new stake in shares of Broadcom during the first quarter worth $588,782,000. First Foundation Advisors boosted its holdings in shares of Broadcom by 1.1% during the first quarter. First Foundation Advisors now owns 6,873 shares of the semiconductor manufacturer's stock worth $9,109,000 after purchasing an additional 78 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Broadcom by 34.9% during the first quarter. Jupiter Asset Management Ltd. now owns 10,129 shares of the semiconductor manufacturer's stock worth $13,425,000 after purchasing an additional 2,622 shares during the last quarter. Finally, Nicolet Advisory Services LLC boosted its holdings in shares of Broadcom by 42.7% during the first quarter. Nicolet Advisory Services LLC now owns 692 shares of the semiconductor manufacturer's stock worth $923,000 after purchasing an additional 207 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. The Goldman Sachs Group increased their target price on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. UBS Group increased their target price on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, StockNews.com lowered Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 50,000 shares of the company'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 transaction 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 approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction on Friday, October 11th. The stock was 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 directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Down 3.3 %

Shares of Broadcom stock traded down $5.54 on Friday, hitting $164.84. 20,700,537 shares of the company traded hands, compared to its average volume of 29,525,430. The stock's 50 day moving average price is $172.29 and its 200-day moving average price is $159.14. 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 52 week low of $90.31 and a 52 week high of $186.42. The company has a market cap of $769.90 billion, a PE ratio of 144.87, a PEG ratio of 2.04 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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 the consensus estimate of $12.98 billion. During the same period in the prior year, the firm earned $0.95 EPS. The firm's revenue was up 47.3% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is 184.35%.

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.