Ingalls & Snyder LLC Has $7.01 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Ingalls & Snyder LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 931.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,642 shares of the semiconductor manufacturer's stock after purchasing an additional 36,703 shares during the quarter. Ingalls & Snyder LLC's holdings in Broadcom were worth $7,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AVGO. Apella Capital LLC raised its holdings in shares of Broadcom by 16.0% in the 2nd quarter. Apella Capital LLC now owns 282 shares of the semiconductor manufacturer's stock worth $489,000 after purchasing an additional 39 shares during the period. Thomasville National Bank boosted its stake in Broadcom by 13.0% in the second quarter. Thomasville National Bank now owns 208 shares of the semiconductor manufacturer's stock worth $334,000 after buying an additional 24 shares in the last quarter. Matrix Trust Co raised its position in Broadcom by 3.0% in the 2nd quarter. Matrix Trust Co now owns 1,866 shares of the semiconductor manufacturer's stock worth $2,996,000 after purchasing an additional 55 shares during the period. Greenfield Savings Bank bought a new stake in shares of Broadcom in the 2nd quarter valued at about $234,000. Finally, MPS Loria Financial Planners LLC purchased a new stake in shares of Broadcom during the second quarter valued at approximately $263,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on AVGO shares. JPMorgan Chase & Co. raised their price target on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" 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. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus target price of $195.96.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The trade was a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $1.64 during trading hours on Tuesday, reaching $168.15. The stock had a trading volume of 16,984,561 shares, compared to its average volume of 17,633,960. The firm has a 50-day moving average of $173.12 and a 200-day moving average of $162.12. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm has a market cap of $785.36 billion, a price-to-earnings ratio of 146.09, a PEG ratio of 1.96 and a beta of 1.13. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

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 analysts' consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The firm's revenue for the quarter was up 47.3% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.26%. Broadcom's payout ratio is 184.19%.

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.