Broadcom Inc. (NASDAQ:AVGO) is Summit Trail Advisors LLC's 6th Largest Position

Summit Trail Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 909.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 666,622 shares of the semiconductor manufacturer's stock after acquiring an additional 600,580 shares during the quarter. Broadcom comprises about 2.9% of Summit Trail Advisors LLC's portfolio, making the stock its 6th biggest holding. Summit Trail Advisors LLC's holdings in Broadcom were worth $114,992,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AVGO. AXA S.A. increased its holdings in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after purchasing an additional 7,608 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after buying an additional 18,206 shares during the period. Whittier Trust Co. increased its stake in shares of Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after buying an additional 623,983 shares during the period. Summit Place Financial Advisors LLC increased its stake in shares of Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock valued at $1,691,000 after buying an additional 8,834 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Broadcom by 913.0% in the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock valued at $13,624,000 after buying an additional 71,181 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares of the company's stock, valued at $204,399,515.40. The trade was a 11.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction on 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 directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Rosenblatt Securities decreased their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.96.

Broadcom Price Performance

NASDAQ:AVGO traded down $0.08 during trading hours on Wednesday, reaching $164.74. The stock had a trading volume of 16,308,772 shares, compared to its average volume of 19,165,998. The stock has a market capitalization of $769.43 billion, a PE ratio of 143.13, a PEG ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The company has a 50 day moving average price of $173.76 and a two-hundred day moving average price of $161.09. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping 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 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 business posted $0.95 earnings per share. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio is 184.19%.

Broadcom 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.