Motley Fool Asset Management LLC Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Motley Fool Asset Management LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 876.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,958 shares of the semiconductor manufacturer's stock after purchasing an additional 168,703 shares during the quarter. Broadcom comprises 1.9% of Motley Fool Asset Management LLC's investment portfolio, making the stock its 13th biggest position. Motley Fool Asset Management LLC's holdings in Broadcom were worth $31,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Castleview Partners LLC lifted its stake in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Tsfg LLC increased its holdings in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 204 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after buying an additional 216 shares during the last quarter. Finally, Krane Funds Advisors LLC bought a new position in shares of Broadcom in the 3rd quarter worth $42,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 0.9 %

Shares of NASDAQ:AVGO traded up $1.46 on Wednesday, hitting $169.61. The company had a trading volume of 17,682,856 shares, compared to its average volume of 28,964,514. The firm's 50-day simple moving average is $173.12 and its two-hundred day simple moving average is $162.12. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $792.18 billion, a price-to-earnings ratio of 148.58, a P/E/G ratio of 1.96 and a beta of 1.13.

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. 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 period last year, the company posted $0.95 EPS. The company's quarterly revenue was up 47.3% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. 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 1.25%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is 184.19%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. Benchmark reissued a "buy" rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Morgan Stanley increased their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group increased their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $195.96.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom 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 completion of the transaction, the insider now directly owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. The trade was 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 this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction 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 $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last three months. Company insiders own 2.00% of the company's stock.

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.