Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Lifeworks Advisors LLC

Lifeworks Advisors LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,174.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,828 shares of the semiconductor manufacturer's stock after buying an additional 19,194 shares during the quarter. Lifeworks Advisors LLC's holdings in Broadcom were worth $3,593,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Delta Asset Management LLC TN increased its stake in Broadcom by 242.9% in 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 period. Tsfg LLC increased its stake in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 204 shares during the period. Krane Funds Advisors LLC purchased a new position in Broadcom in the 3rd quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC purchased a new position in Broadcom in the 3rd quarter worth approximately $45,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 4.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This represents a 3.24 % 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 valued at $53,540,590. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted 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. Benchmark reaffirmed a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Stock Up 0.4 %

Shares of NASDAQ:AVGO traded up $0.65 on Monday, reaching $165.49. The company had a trading volume of 10,647,095 shares, compared to its average volume of 29,441,381. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The firm's 50 day simple moving average is $172.84 and its 200-day simple moving average is $159.35. The firm has a market capitalization of $772.93 billion, a PE ratio of 143.13, a PEG ratio of 1.94 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.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. As a group, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 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.