nVerses Capital LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

nVerses Capital LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2,800.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,800 shares of the semiconductor manufacturer's stock after acquiring an additional 5,600 shares during the period. nVerses Capital LLC's holdings in Broadcom were worth $1,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Lion Street Advisors LLC boosted its holdings in shares of Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after purchasing an additional 6 shares during the period. Buckley Wealth Management LLC boosted its holdings in shares of Broadcom by 0.7% during the first quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer's stock worth $1,529,000 after purchasing an additional 8 shares during the period. Legend Financial Advisors Inc. boosted its holdings in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 8 shares during the period. Ascent Wealth Partners LLC boosted its holdings in shares of Broadcom by 0.3% during the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer's stock worth $3,929,000 after purchasing an additional 8 shares during the period. Finally, O Dell Group LLC boosted its holdings in shares of Broadcom by 2.3% during the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer's stock worth $472,000 after purchasing an additional 8 shares during the period. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO traded down $1.64 during trading hours on Friday, reaching $179.89. 17,814,482 shares of the stock traded hands, compared to its average volume of 30,666,352. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The company's 50-day moving average price is $165.88 and its two-hundred day moving average price is $152.92. The company has a market cap of $837.37 billion, a P/E ratio of 7.84, a price-to-earnings-growth 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 earnings per share for the quarter, beating 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 company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.18%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 9.12%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Broadcom from $173.50 to $170.00 and set a "buy" rating for the company in a report on Monday, September 9th. Cantor Fitzgerald raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. StockNews.com downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Finally, TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $191.54.

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.