Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by LS Investment Advisors LLC

LS Investment Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 884.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the semiconductor manufacturer's stock after acquiring an additional 67,380 shares during the period. Broadcom accounts for approximately 1.9% of LS Investment Advisors LLC's portfolio, making the stock its 17th largest position. LS Investment Advisors LLC's holdings in Broadcom were worth $12,938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. TFB Advisors LLC increased its stake in Broadcom by 916.1% in the third quarter. TFB Advisors LLC now owns 7,214 shares of the semiconductor manufacturer's stock valued at $1,244,000 after purchasing an additional 6,504 shares during the period. Dudley Capital Management LLC increased its position in Broadcom by 916.5% in the 3rd quarter. Dudley Capital Management LLC now owns 11,080 shares of the semiconductor manufacturer's stock valued at $1,911,000 after acquiring an additional 9,990 shares during the period. Mainstream Capital Management LLC purchased a new stake in Broadcom during the 3rd quarter valued at approximately $550,000. Portside Wealth Group LLC acquired a new stake in Broadcom during the 3rd quarter worth approximately $394,000. Finally, Consolidated Planning Corp grew its stake in shares of Broadcom by 927.9% in the 3rd quarter. Consolidated Planning Corp now owns 76,339 shares of the semiconductor manufacturer's stock valued at $13,168,000 after purchasing an additional 68,912 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AVGO shares. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Oppenheimer reduced their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, July 16th. The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Finally, Benchmark reissued a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Two 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 data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average price target of $192.79.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction dated 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 owns 753,280 shares of the company's stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company'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 transaction, the insider now directly owns 753,280 shares of the company's stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 completion of the sale, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company's stock.

Broadcom Trading Down 3.2 %

NASDAQ:AVGO traded down $5.82 during trading hours on Monday, reaching $177.82. 5,887,924 shares of the company were exchanged, compared to its average volume of 29,673,500. The stock has a 50 day simple moving average of $170.75 and a 200 day simple moving average of $157.78. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market cap of $830.52 billion, a price-to-earnings ratio of 156.04, a PEG ratio of 2.11 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The business 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 company's revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.19%. Broadcom's payout ratio is presently 184.35%.

About Broadcom

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.