Tranquility Partners LLC Has $1.03 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Tranquility Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 852.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,942 shares of the semiconductor manufacturer's stock after acquiring an additional 5,318 shares during the period. Tranquility Partners LLC's holdings in Broadcom were worth $1,025,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Stonebridge Capital Advisors LLC grew its position in Broadcom by 18.9% during the first quarter. Stonebridge Capital Advisors LLC now owns 226 shares of the semiconductor manufacturer's stock worth $300,000 after buying an additional 36 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Broadcom by 80.5% during the first quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer's stock valued at $1,189,000 after purchasing an additional 400 shares during the period. Epoch Investment Partners Inc. raised its stake in shares of Broadcom by 6.2% in the first quarter. Epoch Investment Partners Inc. now owns 395,266 shares of the semiconductor manufacturer's stock valued at $523,890,000 after purchasing an additional 23,162 shares in the last quarter. Lazard Asset Management LLC lifted its position in Broadcom by 297.2% in the first quarter. Lazard Asset Management LLC now owns 523,732 shares of the semiconductor manufacturer's stock worth $694,158,000 after purchasing an additional 391,877 shares during the period. Finally, Steel Grove Capital Advisors LLC boosted its stake in Broadcom by 75.5% during the first quarter. Steel Grove Capital Advisors LLC now owns 918 shares of the semiconductor manufacturer's stock worth $1,217,000 after buying an additional 395 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 0.8 %

Broadcom stock traded down $1.38 during mid-day trading on Friday, hitting $162.56. 2,394,678 shares of the company's stock were exchanged, compared to its average volume of 29,229,432. The company's 50 day simple moving average is $173.77 and its 200-day simple moving average is $160.37. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $759.25 billion, a P/E ratio of 142.39, a PEG ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly 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 analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom's revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on AVGO shares. Mizuho upped their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. UBS Group raised their target price on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $192.79.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

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.