LJI Wealth Management LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

LJI Wealth Management LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 970.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,971 shares of the semiconductor manufacturer's stock after purchasing an additional 3,600 shares during the period. LJI Wealth Management LLC's holdings in Broadcom were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Swedbank AB boosted its position in 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 last quarter. Van ECK Associates Corp lifted its stake in shares of Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock valued at $2,203,837,000 after purchasing an additional 11,453,554 shares during the period. Raymond James & Associates boosted its position in shares of Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock valued at $2,186,292,000 after purchasing an additional 11,347,563 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Broadcom by 908.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer's stock worth $1,962,029,000 after purchasing an additional 10,245,786 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Broadcom by 226,130.5% in the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer's stock worth $14,224,520,000 after purchasing an additional 8,242,455 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $0.03 during mid-day trading on Tuesday, reaching $165.70. 8,385,072 shares of the company's stock were exchanged, compared to its average volume of 29,379,625. The firm has a market capitalization of $773.91 billion, a price-to-earnings ratio of 143.68, a price-to-earnings-growth ratio of 1.94 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 debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a 50-day moving average price of $173.34 and a two-hundred day moving average price of $159.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. Analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, September 19th. Broadcom's payout ratio is currently 184.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AVGO shares. UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Mizuho boosted their price objective on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Benchmark reiterated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Activity at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated 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 transaction, the director now owns 34,750 shares of the company's stock, valued at $6,064,917.50. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, 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. In the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

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.