Pathstone Holdings LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Pathstone Holdings LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 896.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 465,793 shares of the semiconductor manufacturer's stock after acquiring an additional 419,051 shares during the period. Pathstone Holdings LLC's holdings in Broadcom were worth $80,349,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Castleview Partners LLC boosted its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Tsfg LLC lifted its stake in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares during the period. Krane Funds Advisors LLC bought a new stake in shares of Broadcom during the 3rd quarter valued at about $42,000. Highline Wealth Partners LLC bought a new stake in Broadcom in the third quarter worth approximately $45,000. Finally, AlphaCentric Advisors LLC lifted its stake in Broadcom by 859.3% in the third quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock valued at $45,000 after buying an additional 232 shares during the period. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Benchmark reiterated a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Finally, Cantor Fitzgerald raised their target price on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at approximately $204,399,515.40. This represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of AVGO stock traded down $1.02 during trading on Friday, hitting $162.92. The company had a trading volume of 2,064,731 shares, compared to its average volume of 29,225,750. Broadcom Inc. has a 52 week low of $90.31 and a 52 week 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 stock has a market capitalization of $760.93 billion, a price-to-earnings ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The stock's 50-day moving average is $173.77 and its two-hundred day moving average is $160.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business 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 earnings per share. The company's revenue was up 47.3% on a year-over-year basis. As a group, analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company 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 represents a $2.12 annualized dividend and a yield of 1.30%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's payout ratio is presently 184.19%.

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.