BSW Wealth Partners Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

BSW Wealth Partners lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 941.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,622 shares of the semiconductor manufacturer's stock after buying an additional 13,218 shares during the quarter. BSW Wealth Partners' holdings in Broadcom were worth $2,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. raised its holdings in Broadcom by 141.7% in the 1st quarter. Richardson Financial Services Inc. now owns 145 shares of the semiconductor manufacturer's stock valued at $192,000 after acquiring an additional 85 shares during the last quarter. SPC Financial Inc. increased its stake in Broadcom by 3.8% in the first quarter. SPC Financial Inc. now owns 731 shares of the semiconductor manufacturer's stock valued at $969,000 after purchasing an additional 27 shares during the last quarter. Howland Capital Management LLC lifted its position in Broadcom by 2.3% during the first quarter. Howland Capital Management LLC now owns 487 shares of the semiconductor manufacturer's stock worth $645,000 after buying an additional 11 shares during the period. Texas Permanent School Fund Corp boosted its stake in Broadcom by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 90,963 shares of the semiconductor manufacturer's stock worth $120,563,000 after buying an additional 335 shares during the last quarter. Finally, Mitchell Capital Management Co. increased its stake in shares of Broadcom by 12.7% during the 1st quarter. Mitchell Capital Management Co. now owns 9,344 shares of the semiconductor manufacturer's stock valued at $12,384,000 after acquiring an additional 1,056 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO stock traded up $5.65 on Wednesday, reaching $179.55. 23,868,191 shares of the company were exchanged, compared to its average volume of 29,908,316. Broadcom Inc. has a 12 month low of $87.62 and a 12 month 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 stock's fifty day moving average price is $169.80 and its 200 day moving average price is $156.94. The firm has a market capitalization of $838.60 billion, a PE ratio of 155.99, a PEG ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (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 net margin of 10.88% and a return on equity of 30.12%. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, July 16th. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday. Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Finally, Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued 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 a consensus price target of $192.79.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the 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 completion of the sale, the insider now owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. 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 quarter. 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.