Cravens & Co Advisors LLC Buys 10,935 Shares of Broadcom Inc. (NASDAQ:AVGO)

Cravens & Co Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 814.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,278 shares of the semiconductor manufacturer's stock after acquiring an additional 10,935 shares during the quarter. Broadcom accounts for about 1.6% of Cravens & Co Advisors LLC's holdings, making the stock its 12th largest position. Cravens & Co Advisors LLC's holdings in Broadcom were worth $2,118,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AVGO. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 204 shares in the last quarter. Cedar Wealth Management LLC lifted its position in Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after buying an additional 216 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Broadcom during the 3rd quarter valued at $42,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Broadcom during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last ninety days. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $2.41 during mid-day trading on Friday, hitting $162.08. 11,024,005 shares of the stock were exchanged, compared to its average volume of 29,107,898. The company has a market cap of $757.01 billion, a P/E ratio of 140.82, a PEG ratio of 1.88 and a beta of 1.17. 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 Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The stock's fifty day simple moving average is $173.39 and its two-hundred day simple moving average is $161.69.

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 for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the previous year, the company posted $0.95 EPS. Broadcom's revenue was up 47.3% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced 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 positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's payout ratio is presently 184.19%.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. UBS Group lifted their price objective 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. Finally, Mizuho increased their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $195.96.

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.