Silicon Valley Capital Partners increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7,987.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,351 shares of the semiconductor manufacturer's stock after purchasing an additional 61,580 shares during the period. Broadcom makes up about 1.4% of Silicon Valley Capital Partners' holdings, making the stock its 18th biggest holding. Silicon Valley Capital Partners' holdings in Broadcom were worth $10,755,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Cohen Capital Management Inc. grew its holdings in shares of Broadcom by 1,860.3% in the third quarter. Cohen Capital Management Inc. now owns 2,470 shares of the semiconductor manufacturer's stock worth $426,000 after purchasing an additional 2,344 shares during the last quarter. WFA Asset Management Corp boosted its holdings in shares of Broadcom by 900.0% during the third quarter. WFA Asset Management Corp now owns 2,120 shares of the semiconductor manufacturer's stock worth $366,000 after purchasing an additional 1,908 shares during the period. Wetzel Investment Advisors Inc. increased its stake in shares of Broadcom by 984.8% during the third quarter. Wetzel Investment Advisors Inc. now owns 4,057 shares of the semiconductor manufacturer's stock valued at $700,000 after buying an additional 3,683 shares during the period. Klingenstein Fields & Co. LP lifted its stake in Broadcom by 887.6% in the third quarter. Klingenstein Fields & Co. LP now owns 710,943 shares of the semiconductor manufacturer's stock worth $122,638,000 after acquiring an additional 638,956 shares during the period. Finally, Vestor Capital LLC boosted its holdings in Broadcom by 980.0% in the third quarter. Vestor Capital LLC now owns 398,128 shares of the semiconductor manufacturer's stock valued at $68,677,000 after acquiring an additional 361,264 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.
Insider Buying and Selling
In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom 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 sale, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.
Broadcom Price Performance
Shares of AVGO stock traded up $4.33 during trading hours on Thursday, hitting $183.88. The stock had a trading volume of 13,179,859 shares, compared to its average volume of 29,831,672. The stock's 50-day moving average price is $169.80 and its two-hundred day moving average price is $156.94. Broadcom Inc. has a one year low of $89.90 and a one year high of $186.42. The stock has a market capitalization of $858.83 billion, a price-to-earnings ratio of 159.90, a PEG ratio of 1.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.
Broadcom Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors 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 dividend on an annualized basis and a dividend yield of 1.15%. Broadcom's dividend payout ratio (DPR) is presently 184.35%.
Analyst Ratings Changes
A number of brokerages recently issued reports on AVGO. Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Oppenheimer decreased their price target 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. TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Finally, Benchmark reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Two 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.
View Our Latest Analysis on AVGO
Broadcom Company Profile
(
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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