Broadcom Inc. (NASDAQ:AVGO) is Miramar Capital LLC's 5th Largest Position

Miramar Capital LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 862.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,877 shares of the semiconductor manufacturer's stock after buying an additional 102,939 shares during the period. Broadcom comprises approximately 4.6% of Miramar Capital LLC's portfolio, making the stock its 5th largest position. Miramar Capital LLC's holdings in Broadcom were worth $19,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Seelaus Asset Management LLC grew its position in shares of Broadcom by 911.5% in the 3rd quarter. Seelaus Asset Management LLC now owns 1,315 shares of the semiconductor manufacturer's stock worth $227,000 after buying an additional 1,185 shares during the last quarter. Coastline Trust Co grew its stake in shares of Broadcom by 326.2% in the third quarter. Coastline Trust Co now owns 3,857 shares of the semiconductor manufacturer's stock worth $665,000 after acquiring an additional 2,952 shares during the last quarter. Northcape Wealth Management LLC raised its holdings in Broadcom by 924.5% in the 3rd quarter. Northcape Wealth Management LLC now owns 4,354 shares of the semiconductor manufacturer's stock worth $751,000 after acquiring an additional 3,929 shares during the last quarter. Linscomb Wealth Inc. increased its holdings in Broadcom by 859.2% in the 3rd quarter. Linscomb Wealth Inc. now owns 166,547 shares of the semiconductor manufacturer's stock worth $28,729,000 after buying an additional 149,183 shares in the last quarter. Finally, Altrius Capital Management Inc raised its position in Broadcom by 978.2% in the 3rd quarter. Altrius Capital Management Inc now owns 26,524 shares of the semiconductor manufacturer's stock worth $4,575,000 after buying an additional 24,064 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 0.4 %

Shares of NASDAQ:AVGO traded down $0.70 on Tuesday, hitting $164.97. 7,100,828 shares of the company's stock were exchanged, compared to its average volume of 29,373,893. The business's 50 day simple moving average is $173.34 and its two-hundred day simple moving average is $159.57. 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 stock has a market capitalization of $770.50 billion, a price-to-earnings ratio of 143.68, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The company's revenue was up 47.3% compared to the same quarter last year. Analysts anticipate that Broadcom Inc. will post 3.78 EPS 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 was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 184.35%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVGO shares. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating for the company. Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two research 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.79.

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.