RW Investment Management LLC Purchases 3,734 Shares of Broadcom Inc. (NASDAQ:AVGO)

RW Investment Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 854.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,171 shares of the semiconductor manufacturer's stock after buying an additional 3,734 shares during the quarter. RW Investment Management LLC's holdings in Broadcom were worth $719,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Lion Street Advisors LLC raised its holdings in shares of Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock valued at $520,000 after purchasing an additional 6 shares in the last quarter. Optimum Investment Advisors boosted its holdings in shares of Broadcom by 0.6% in the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after buying an additional 8 shares in the last quarter. Anderson Hoagland & Co. raised its stake in shares of Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock worth $4,623,000 after acquiring an additional 9 shares in the last quarter. Wealth Group Ltd lifted its position in Broadcom by 6.0% during the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer's stock valued at $283,000 after acquiring an additional 10 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its stake in Broadcom by 1.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer's stock valued at $1,161,000 after acquiring an additional 10 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction that occurred on 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 sale, the director now owns 34,750 shares of the company's stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated 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 transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 0.5 %

AVGO stock traded down $0.76 during trading on Monday, reaching $163.47. The stock had a trading volume of 10,916,275 shares, compared to its average volume of 29,214,627. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a fifty day moving average price of $173.70 and a 200 day moving average price of $160.62. The company has a market capitalization of $763.50 billion, a P/E ratio of 142.10, a PEG ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. Broadcom's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.30%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 184.19%.

Analysts Set New Price Targets

Several analysts have recently commented on AVGO shares. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Morgan Stanley upped their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Benchmark reissued a "buy" rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.96.

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.