Broadcom Inc. (NASDAQ:AVGO) is WESPAC Advisors SoCal LLC's 2nd Largest Position

WESPAC Advisors SoCal LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 718.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 108,128 shares of the semiconductor manufacturer's stock after purchasing an additional 94,919 shares during the quarter. Broadcom comprises about 4.3% of WESPAC Advisors SoCal LLC's holdings, making the stock its 2nd biggest holding. WESPAC Advisors SoCal LLC's holdings in Broadcom were worth $18,652,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AVGO. Castleview Partners LLC raised its stake in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares during the period. Tsfg LLC grew its holdings in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in Broadcom during the 3rd quarter valued at approximately $42,000. Highline Wealth Partners LLC purchased a new stake in Broadcom during the 3rd quarter valued at approximately $45,000. Finally, AlphaCentric Advisors LLC grew its holdings in Broadcom by 859.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock valued at $45,000 after buying an additional 232 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ AVGO traded down $4.42 during trading hours on Wednesday, reaching $160.93. The stock had a trading volume of 8,113,320 shares, compared to its average volume of 29,327,857. The stock has a fifty day moving average of $173.68 and a 200 day moving average of $159.82. The stock has a market cap of $751.64 billion, a P/E ratio of 141.31, 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 quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (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 company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the company posted $0.95 earnings per share. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share 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 paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.32%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is presently 184.35%.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. StockNews.com lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Rosenblatt Securities cut their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, Mizuho raised their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Two 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $192.79.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction on 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 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 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom 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.