Summit Place Financial Advisors LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Summit Place Financial Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 912.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,802 shares of the semiconductor manufacturer's stock after acquiring an additional 8,834 shares during the quarter. Summit Place Financial Advisors LLC's holdings in Broadcom were worth $1,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lion Street Advisors LLC lifted its position 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 valued at $520,000 after purchasing an additional 6 shares in the last quarter. Ascent Wealth Partners LLC lifted its position 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 valued at $3,929,000 after purchasing an additional 8 shares in the last quarter. O Dell Group LLC lifted its position 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 valued at $472,000 after purchasing an additional 8 shares in the last quarter. Hudson Value Partners LLC lifted its position in shares of Broadcom by 2.7% during the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock valued at $408,000 after purchasing an additional 8 shares in the last quarter. Finally, Renasant Bank lifted its position in shares of Broadcom by 1.0% during the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock valued at $1,040,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 3.9 %

NASDAQ:AVGO traded down $6.87 during midday trading on Thursday, reaching $169.77. 26,054,443 shares of the stock traded hands, compared to its average volume of 30,147,742. The company has a fifty day moving average of $168.74 and a 200 day moving average of $155.58. Broadcom Inc. has a 12 month low of $83.26 and a 12 month high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a market capitalization of $790.26 billion, a P/E ratio of 147.63, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the business posted $0.95 EPS. The firm's revenue was up 47.3% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed 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. This is an increase 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 of this dividend was Thursday, September 19th. Broadcom's payout ratio is presently 184.35%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVGO shares. Morgan Stanley raised their price target 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. Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 16th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Truist Financial lifted their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $191.54.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the company'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 of the company's stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

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.