Dudley Capital Management LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Dudley Capital Management LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 916.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,080 shares of the semiconductor manufacturer's stock after purchasing an additional 9,990 shares during the period. Broadcom makes up 1.0% of Dudley Capital Management LLC's portfolio, making the stock its 29th biggest position. Dudley Capital Management LLC's holdings in Broadcom were worth $1,911,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC bought a new position in shares of Broadcom during the third quarter valued at approximately $550,000. Portside Wealth Group LLC acquired a new stake in shares of Broadcom in the 3rd quarter worth approximately $394,000. Consolidated Planning Corp lifted its stake in Broadcom by 927.9% during the third quarter. Consolidated Planning Corp now owns 76,339 shares of the semiconductor manufacturer's stock valued at $13,168,000 after buying an additional 68,912 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in shares of Broadcom by 1,503.4% in the 3rd quarter. Western Pacific Wealth Management LP now owns 930 shares of the semiconductor manufacturer's stock valued at $160,000 after acquiring an additional 872 shares in the last quarter. Finally, Hara Capital LLC raised its position in Broadcom by 504.5% during the third quarter. Hara Capital LLC now owns 5,960 shares of the semiconductor manufacturer's stock valued at $1,028,000 after buying an additional 4,974 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company's stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade 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. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on 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 transaction, the insider now directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating on the stock. Mizuho increased 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. Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. 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. Finally, TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Two investment 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. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Trading Down 3.2 %

Shares of Broadcom stock traded down $5.82 on Monday, reaching $177.82. 5,887,924 shares of the company's stock were exchanged, compared to its average volume of 29,673,500. The company has a market capitalization of $830.52 billion, a P/E ratio of 156.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The firm's 50-day moving average is $170.75 and its two-hundred day moving average is $157.78. 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 (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The business's revenue was up 47.3% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.35%.

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.