Harbour Investments Inc. Has $4.44 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Harbour Investments Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 877.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,752 shares of the semiconductor manufacturer's stock after purchasing an additional 23,118 shares during the period. Harbour Investments Inc.'s holdings in Broadcom were worth $4,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Castleview Partners LLC increased its stake 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 purchasing an additional 134 shares during the last quarter. Delta Asset Management LLC TN increased its stake in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 17 shares during the last quarter. Tsfg LLC boosted its holdings in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 204 shares during the period. Krane Funds Advisors LLC bought a new stake in shares of Broadcom during the 3rd quarter worth $42,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Broadcom during the 3rd quarter worth $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of Broadcom stock traded down $5.54 during mid-day trading on Friday, reaching $164.84. 20,819,361 shares of the stock were exchanged, compared to its average volume of 29,525,910. The company has a market cap of $769.90 billion, a price-to-earnings ratio of 144.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a 50-day simple moving average of $172.29 and a 200 day simple moving average of $159.14. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results 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. The business had revenue of $13.07 billion during 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%. The firm's revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 184.35%.

Insider Buying and Selling at Broadcom

In other 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 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 11.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities reduced their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $192.79.

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.