Ashton Thomas Securities LLC Has $1.39 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Ashton Thomas Securities LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,039.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,068 shares of the semiconductor manufacturer's stock after purchasing an additional 7,360 shares during the quarter. Ashton Thomas Securities LLC's holdings in Broadcom were worth $1,392,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB boosted its holdings in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares during the period. Van ECK Associates Corp raised its position in Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock worth $2,203,837,000 after acquiring an additional 11,453,554 shares in the last quarter. Raymond James & Associates raised its position in Broadcom by 855.4% in the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock worth $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Broadcom by 226,130.5% during the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer's stock worth $14,224,520,000 after buying an additional 8,242,455 shares during the period. Finally, National Pension Service grew its stake in Broadcom by 1,045.4% during the 3rd quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer's stock valued at $1,427,120,000 after acquiring an additional 7,550,878 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $3.20 during trading hours on Thursday, reaching $170.38. The stock had a trading volume of 20,618,991 shares, compared to its average volume of 29,565,154. The business's fifty day moving average is $171.93 and its two-hundred day moving average is $158.86. 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 company has a market cap of $795.77 billion, a price-to-earnings ratio of 150.74, a PEG ratio of 2.07 and a beta of 1.17. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company posted $0.95 earnings per share. Broadcom's revenue was up 47.3% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 184.19%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AVGO shares. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Mizuho boosted their price target on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. 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 research note on Friday, September 6th. Finally, Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Two equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.79.

About Broadcom

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.