JB Capital LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

JB Capital LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 885.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,505 shares of the semiconductor manufacturer's stock after acquiring an additional 102,883 shares during the quarter. Broadcom makes up approximately 1.1% of JB Capital LLC's portfolio, making the stock its 14th biggest position. JB Capital LLC's holdings in Broadcom were worth $19,752,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Castleview Partners LLC boosted its stake in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 134 shares during the period. Delta Asset Management LLC TN boosted its stake in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 17 shares during the period. Tsfg LLC boosted its stake in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 204 shares during the period. Krane Funds Advisors LLC purchased a new position in shares of Broadcom in the 3rd quarter valued at about $42,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Broadcom in the 3rd quarter valued at about $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. TD Cowen upgraded Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Mizuho boosted their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Finally, Benchmark restated a "buy" rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Two 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 company. According to MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Stock Performance

Shares of Broadcom stock traded down $4.73 during trading hours on Monday, hitting $178.91. 17,021,045 shares of the company were exchanged, compared to its average volume of 29,724,547. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. 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 business has a 50-day moving average of $170.75 and a 200-day moving average of $157.78. The stock has a market capitalization of $835.61 billion, a price-to-earnings ratio of 155.44, a P/E/G ratio of 2.16 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The company's quarterly revenue was up 47.3% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. 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 is 184.19%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares in the company, valued at $70,744,366. This 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 through this link. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by insiders.

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.