Counterweight Ventures LLC Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Counterweight Ventures LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 753.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,612 shares of the semiconductor manufacturer's stock after purchasing an additional 16,431 shares during the period. Broadcom accounts for 2.3% of Counterweight Ventures LLC's portfolio, making the stock its 17th largest holding. Counterweight Ventures LLC's holdings in Broadcom were worth $3,211,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of AVGO. Castleview Partners LLC boosted its position in shares of 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 in the last quarter. Tsfg LLC boosted its stake in Broadcom by 1,073.7% in the third 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 bought a new position in Broadcom in the third quarter valued at about $42,000. Highline Wealth Partners LLC acquired a new position in Broadcom during the 3rd quarter worth approximately $45,000. Finally, AlphaCentric Advisors LLC lifted its stake in shares of Broadcom by 859.3% in the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock valued at $45,000 after acquiring an additional 232 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AVGO shares. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. William Blair began coverage on Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating for the company. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Finally, Benchmark reaffirmed a "buy" rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Stock Performance

NASDAQ AVGO traded up $0.29 during trading hours on Friday, reaching $164.23. 17,332,473 shares of the company were exchanged, compared to its average volume of 18,615,522. The business's 50 day simple moving average is $173.70 and its 200-day simple moving average is $160.62. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The stock has a market capitalization of $767.05 billion, a P/E ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 during the quarter, compared to analyst estimates of $12.98 billion. The firm's revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. On average, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 annualized dividend and a dividend yield of 1.29%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is currently 184.35%.

Insider Activity

In other news, 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 transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now directly owns 34,750 shares of the company's stock, valued at $6,064,917.50. This represents a 2.11 % 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.

Broadcom Company 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.