Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Hardy Reed LLC

Hardy Reed LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 886.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,389 shares of the semiconductor manufacturer's stock after buying an additional 10,234 shares during the quarter. Hardy Reed LLC's holdings in Broadcom were worth $1,965,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Townsquare Capital LLC boosted its stake in shares of Broadcom by 1,299.9% during the 3rd quarter. Townsquare Capital LLC now owns 145,517 shares of the semiconductor manufacturer's stock worth $25,102,000 after purchasing an additional 135,122 shares during the period. NCP Inc. increased its stake in Broadcom by 1,555.9% in the third quarter. NCP Inc. now owns 7,700 shares of the semiconductor manufacturer's stock worth $1,328,000 after purchasing an additional 7,235 shares during the period. Baldwin Investment Management LLC lifted its position in shares of Broadcom by 889.0% during the third quarter. Baldwin Investment Management LLC now owns 81,378 shares of the semiconductor manufacturer's stock worth $14,038,000 after purchasing an additional 73,150 shares during the last quarter. Cadence Bank boosted its stake in shares of Broadcom by 857.2% during the third quarter. Cadence Bank now owns 256,196 shares of the semiconductor manufacturer's stock valued at $44,194,000 after purchasing an additional 229,432 shares during the period. Finally, Carlson Capital Management increased its stake in Broadcom by 957.9% in the 3rd quarter. Carlson Capital Management now owns 6,982 shares of the semiconductor manufacturer's stock worth $1,204,000 after buying an additional 6,322 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % 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. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last quarter. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. Rosenblatt Securities dropped 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 note on Friday, September 6th. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Benchmark reaffirmed a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Finally, TD Cowen raised shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $195.96.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $5.07 during trading on Thursday, hitting $159.67. 19,722,723 shares of the stock traded hands, compared to its average volume of 29,185,664. The company has a fifty day moving average price of $173.57 and a two-hundred day moving average price of $161.49. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a market cap of $745.75 billion, a price-to-earnings ratio of 138.84, a P/E/G ratio of 1.94 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The company's revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.33%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's payout ratio is presently 184.35%.

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.