D.B. Root & Company LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

D.B. Root & Company LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2,050.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,334 shares of the semiconductor manufacturer's stock after purchasing an additional 5,086 shares during the period. D.B. Root & Company LLC's holdings in Broadcom were worth $920,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. M&G PLC grew its holdings in shares of Broadcom by 790.4% during the 3rd quarter. M&G PLC now owns 3,092,811 shares of the semiconductor manufacturer's stock valued at $535,056,000 after purchasing an additional 2,745,447 shares during the last quarter. Smart Portfolios LLC boosted its position in Broadcom by 842.4% in the third quarter. Smart Portfolios LLC now owns 10,300 shares of the semiconductor manufacturer's stock valued at $1,777,000 after buying an additional 9,207 shares in the last quarter. Members Capital Advisors Inc. grew its stake in shares of Broadcom by 900.0% during the third quarter. Members Capital Advisors Inc. now owns 2,400 shares of the semiconductor manufacturer's stock worth $414,000 after buying an additional 2,160 shares during the last quarter. Spinnaker Trust grew its stake in shares of Broadcom by 1,272.2% during the third quarter. Spinnaker Trust now owns 55,548 shares of the semiconductor manufacturer's stock worth $9,582,000 after buying an additional 51,500 shares during the last quarter. Finally, American Capital Advisory LLC increased its holdings in shares of Broadcom by 1,261.9% during the third quarter. American Capital Advisory LLC now owns 1,430 shares of the semiconductor manufacturer's stock worth $247,000 after buying an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Down 0.1 %

Shares of NASDAQ:AVGO traded down $0.17 during mid-day trading on Friday, hitting $183.64. The company had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The firm has a fifty day moving average price of $170.75 and a 200 day moving average price of $157.78. The company has a market capitalization of $857.70 billion, a PE ratio of 159.69, a price-to-earnings-growth ratio of 2.11 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, beating the consensus estimate of $1.20 by $0.04. The firm 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%. The business's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.15%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 184.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AVGO shares. Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. StockNews.com lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Truist Financial lifted their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Two 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Buying and Selling at Broadcom

In related news, 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 completion of the sale, the director now owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares of the company's stock, valued at $69,596,812.80. This represents a 0.00 % 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. Company insiders own 2.00% of the company's stock.

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.