Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Matrix Trust Co

Matrix Trust Co lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 923.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,100 shares of the semiconductor manufacturer's stock after purchasing an additional 17,234 shares during the period. Broadcom accounts for approximately 0.6% of Matrix Trust Co's holdings, making the stock its 23rd largest position. Matrix Trust Co's holdings in Broadcom were worth $3,295,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AVGO. Legend Financial Advisors Inc. lifted its stake in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 8 shares in the last quarter. Richardson Capital Management LLC purchased a new position in shares of Broadcom in the first quarter valued at about $29,000. Delta Asset Management LLC TN boosted its stake in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in shares of Broadcom during the first quarter worth about $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $43,000. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of Broadcom stock traded down $0.26 during trading hours on Thursday, reaching $185.69. The stock had a trading volume of 16,300,185 shares, compared to its average volume of 30,960,861. Broadcom Inc. has a twelve month low of $81.83 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 stock's 50 day moving average is $161.39 and its 200 day moving average is $150.97. The firm has a market capitalization of $864.36 billion, a PE ratio of 7.99, a PEG ratio of 2.78 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The company 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 revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 EPS. Equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.14%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 9.12%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. 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 hyperlink. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction dated 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 owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following 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. Insiders have sold 276,230 shares of company stock worth $47,190,190 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Evercore ISI upped their price target on Broadcom from $162.00 to $201.00 and gave the stock an "outperform" rating in a research note on Thursday, June 13th. Wells Fargo & Company increased their price objective on shares of Broadcom from $143.00 to $170.00 and gave the company an "equal weight" rating in a research report on Thursday, June 13th. Benchmark restated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Barclays lifted their price target on Broadcom from $150.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, June 13th. Finally, Jefferies Financial Group lifted their price target on Broadcom from $155.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.29.

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.