Empowered Funds LLC Has $32.04 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Empowered Funds LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 916.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,724 shares of the semiconductor manufacturer's stock after acquiring an additional 167,450 shares during the quarter. Broadcom comprises approximately 0.5% of Empowered Funds LLC's holdings, making the stock its 22nd biggest holding. Empowered Funds LLC's holdings in Broadcom were worth $32,037,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Empirical Finance LLC grew its position in Broadcom by 924.0% in the third quarter. Empirical Finance LLC now owns 142,792 shares of the semiconductor manufacturer's stock valued at $24,632,000 after acquiring an additional 128,847 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Broadcom by 821.0% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 78,646 shares of the semiconductor manufacturer's stock valued at $13,566,000 after purchasing an additional 70,107 shares during the period. Signature Estate & Investment Advisors LLC grew its holdings in Broadcom by 880.3% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 373,602 shares of the semiconductor manufacturer's stock valued at $64,446,000 after purchasing an additional 335,490 shares in the last quarter. Connable Office Inc. grew its holdings in Broadcom by 1,471.4% during the 3rd quarter. Connable Office Inc. now owns 18,731 shares of the semiconductor manufacturer's stock valued at $3,231,000 after purchasing an additional 17,539 shares in the last quarter. Finally, BluePointe Capital Management LLC increased its stake in Broadcom by 901.1% during the 3rd quarter. BluePointe Capital Management LLC now owns 5,716 shares of the semiconductor manufacturer's stock worth $986,000 after buying an additional 5,145 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO traded down $0.32 during trading hours on Tuesday, reaching $165.35. 17,058,496 shares of the company's stock traded hands, compared to its average volume of 29,417,238. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The business's fifty day simple moving average is $173.68 and its two-hundred day simple moving average is $159.82. 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 firm has a market capitalization of $772.28 billion, a price-to-earnings ratio of 143.78, a P/E/G ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 analysts' expectations 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 quarter last year, the company earned $0.95 EPS. Analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current 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 issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is presently 184.35%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Rosenblatt Securities lowered their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. StockNews.com lowered Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating for the company. Finally, Morgan Stanley lifted their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Insider Activity

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the 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 $6,064,917.50. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

Broadcom 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.