Lavaca Capital LLC Has $1.53 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Lavaca Capital LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 901.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,860 shares of the semiconductor manufacturer's stock after buying an additional 7,975 shares during the quarter. Broadcom comprises 0.7% of Lavaca Capital LLC's portfolio, making the stock its 19th largest position. Lavaca Capital LLC's holdings in Broadcom were worth $1,528,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Lion Street Advisors LLC boosted its stake in shares of Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after acquiring an additional 6 shares in the last quarter. Optimum Investment Advisors lifted its holdings in shares of Broadcom by 0.6% during the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after purchasing an additional 8 shares during the last quarter. Anderson Hoagland & Co. boosted its position in shares of Broadcom by 0.3% in the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock valued at $4,623,000 after purchasing an additional 9 shares during the period. Wealth Group Ltd increased its stake in Broadcom by 6.0% in the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer's stock worth $283,000 after purchasing an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its holdings in Broadcom by 1.4% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer's stock worth $1,161,000 after buying an additional 10 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction, the insider now owns 399,460 shares of the company's stock, valued at $70,744,366. This represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 3.62 % 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 valued at $53,540,590 over the last three months. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. Mizuho lifted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Benchmark reiterated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Finally, Cantor Fitzgerald raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $195.96.

Broadcom Price Performance

Shares of AVGO traded up $2.41 during trading hours on Friday, hitting $162.08. The stock had a trading volume of 11,024,005 shares, compared to its average volume of 17,582,554. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The stock has a market capitalization of $757.01 billion, a price-to-earnings ratio of 140.82, a P/E/G ratio of 1.91 and a beta of 1.17. The company's fifty day moving average is $173.39 and its two-hundred day moving average is $161.69. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

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 (EPS) for the quarter, beating 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 firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio is presently 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.