MeadowBrook Investment Advisors LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

MeadowBrook Investment Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,358.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,340 shares of the semiconductor manufacturer's stock after buying an additional 3,111 shares during the quarter. MeadowBrook Investment Advisors LLC's holdings in Broadcom were worth $576,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AVGO. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares during the period. Delta Asset Management LLC TN lifted its position in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 17 shares during the period. Tsfg LLC increased its stake in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in Broadcom in the 3rd quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC purchased a new stake in Broadcom in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 750 shares of the business's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 0.4 %

NASDAQ AVGO traded up $0.65 during mid-day trading on Monday, hitting $165.49. The company's stock had a trading volume of 10,647,095 shares, compared to its average volume of 29,441,381. The company's 50 day simple moving average is $172.84 and its 200 day simple moving average is $159.35. Broadcom Inc. has a twelve month low of $90.31 and a twelve month 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 firm has a market capitalization of $772.93 billion, a price-to-earnings ratio of 143.13, a PEG ratio of 1.94 and a beta of 1.17.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. Analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's payout ratio is currently 184.19%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AVGO shares. Morgan Stanley increased their price target on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Mizuho lifted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, Cantor Fitzgerald boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

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.