Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 608.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,217,987 shares of the semiconductor manufacturer's stock after acquiring an additional 1,904,744 shares during the period. Broadcom accounts for about 1.5% of Los Angeles Capital Management LLC's investment portfolio, making the stock its 9th biggest holding. Los Angeles Capital Management LLC's holdings in Broadcom were worth $382,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. AXA S.A. boosted its position in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after buying an additional 7,608 shares during the period. Catalyst Financial Partners LLC lifted its position in Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after purchasing an additional 18,206 shares during the period. Whittier Trust Co. lifted its position in Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock worth $119,000,000 after purchasing an additional 623,983 shares during the period. Summit Place Financial Advisors LLC lifted its position in Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock worth $1,691,000 after purchasing an additional 8,834 shares during the period. Finally, Signaturefd LLC lifted its position in Broadcom by 913.0% in the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock worth $13,624,000 after purchasing an additional 71,181 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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 dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company's stock, valued at $70,744,366. This represents a 4.83 % 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 ninety days. Company insiders own 2.00% of the company's stock.

Broadcom Stock Down 1.8 %

NASDAQ:AVGO traded down $3.20 during trading hours on Thursday, reaching $170.38. The company's stock had a trading volume of 20,618,991 shares, compared to its average volume of 29,565,154. 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 Inc. has a one year low of $90.31 and a one year high of $186.42. The business's 50-day moving average is $171.93 and its 200-day moving average is $158.86. The company has a market cap of $795.77 billion, a price-to-earnings ratio of 150.74, a price-to-earnings-growth ratio of 2.07 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 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The business's quarterly revenue was up 47.3% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current 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 issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.24%. This is a boost 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 184.19%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVGO. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Mizuho upped their price target on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

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.