Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 923.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,361 shares of the semiconductor manufacturer's stock after buying an additional 219,584 shares during the quarter. Broadcom makes up approximately 0.8% of Mesirow Financial Investment Management Inc.'s holdings, making the stock its 27th largest holding. Mesirow Financial Investment Management Inc.'s holdings in Broadcom were worth $41,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. XML Financial LLC grew its position in Broadcom by 894.4% during the third quarter. XML Financial LLC now owns 10,382 shares of the semiconductor manufacturer's stock valued at $1,791,000 after acquiring an additional 9,338 shares during the period. Sustainable Insight Capital Management LLC lifted its stake in shares of Broadcom by 835.2% in the 3rd quarter. Sustainable Insight Capital Management LLC now owns 89,520 shares of the semiconductor manufacturer's stock valued at $15,442,000 after purchasing an additional 79,948 shares in the last quarter. RKL Wealth Management LLC grew its holdings in shares of Broadcom by 1,216.5% during the 3rd quarter. RKL Wealth Management LLC now owns 4,081 shares of the semiconductor manufacturer's stock worth $704,000 after purchasing an additional 3,771 shares during the period. Carr Financial Group Corp increased its position in Broadcom by 1,077.2% during the 3rd quarter. Carr Financial Group Corp now owns 5,874 shares of the semiconductor manufacturer's stock worth $1,013,000 after purchasing an additional 5,375 shares in the last quarter. Finally, GSG Advisors LLC raised its holdings in Broadcom by 1,068.0% in the third quarter. GSG Advisors LLC now owns 3,936 shares of the semiconductor manufacturer's stock valued at $659,000 after buying an additional 3,599 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated 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 directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AVGO. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating for the company. StockNews.com downgraded Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Finally, Oppenheimer decreased their price target on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Stock Performance

Shares of Broadcom stock traded down $2.64 during trading on Wednesday, hitting $173.58. 17,442,238 shares of the stock were exchanged, compared to its average volume of 29,605,799. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The stock's fifty day moving average is $171.55 and its 200 day moving average is $158.53. The stock has a market cap of $810.72 billion, a PE ratio of 151.55, a P/E/G ratio of 2.07 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate 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 net margin of 10.88% and a return on equity of 30.12%. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.22%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 184.19%.

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.