Oliver Luxxe Assets LLC Purchases 38,523 Shares of Broadcom Inc. (NASDAQ:AVGO)

Oliver Luxxe Assets LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 868.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,961 shares of the semiconductor manufacturer's stock after buying an additional 38,523 shares during the period. Broadcom comprises approximately 1.3% of Oliver Luxxe Assets LLC's holdings, making the stock its 9th biggest holding. Oliver Luxxe Assets LLC's holdings in Broadcom were worth $7,411,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer's stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Broadcom by 2.2% during the second quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer's stock worth $6,362,816,000 after purchasing an additional 83,846 shares during the last quarter. GQG Partners LLC grew its stake in Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer's stock worth $3,966,730,000 after purchasing an additional 983,328 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Broadcom by 826.3% in the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer's stock valued at $511,258,000 after buying an additional 2,643,845 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO traded up $0.83 during mid-day trading on Monday, reaching $182.31. 17,176,458 shares of the stock were exchanged, compared to its average volume of 30,851,479. 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 business has a fifty day moving average price of $163.72 and a 200 day moving average price of $151.97. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The firm has a market capitalization of $848.63 billion, a PE ratio of 7.84, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm earned $0.95 EPS. The business's revenue for the quarter was up 47.3% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.78 earnings per share 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 issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.16%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is 9.12%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares of the company's stock, valued at $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the firm's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $172.32, for a total transaction of $3,446,400.00. Following the transaction, the chief executive officer now owns 1,151,910 shares in the company, valued at approximately $198,497,131.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 295,130 shares of company stock valued at $50,646,622 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVGO. Mizuho increased their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday. Oppenheimer decreased their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, July 16th. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating on the stock. Truist Financial lifted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, Bank of America reaffirmed a "buy" rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Two equities research 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $191.54.

Broadcom Company 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.