Ted Buchan & Co Buys 10,333 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ted Buchan & Co boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 975.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,392 shares of the semiconductor manufacturer's stock after purchasing an additional 10,333 shares during the period. Broadcom accounts for about 0.9% of Ted Buchan & Co's portfolio, making the stock its 26th biggest holding. Ted Buchan & Co's holdings in Broadcom were worth $1,965,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. TBH Global Asset Management LLC lifted its stake in shares of Broadcom by 8.0% in the 1st quarter. TBH Global Asset Management LLC now owns 692 shares of the semiconductor manufacturer's stock valued at $917,000 after purchasing an additional 51 shares during the period. TTP Investments Inc. lifted its position in shares of Broadcom by 13.2% during the 1st quarter. TTP Investments Inc. now owns 3,079 shares of the semiconductor manufacturer's stock valued at $4,109,000 after acquiring an additional 359 shares during the period. JBR Co Financial Management Inc bought a new position in Broadcom during the first quarter worth $227,000. Kingsview Wealth Management LLC increased its stake in Broadcom by 4.2% in the first quarter. Kingsview Wealth Management LLC now owns 8,425 shares of the semiconductor manufacturer's stock valued at $11,167,000 after purchasing an additional 338 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its holdings in shares of Broadcom by 1.8% during the first quarter. HBK Sorce Advisory LLC now owns 2,676 shares of the semiconductor manufacturer's stock valued at $3,546,000 after purchasing an additional 47 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

AVGO traded down $2.64 during trading hours on Wednesday, hitting $173.58. The stock had a trading volume of 17,442,238 shares, compared to its average volume of 29,605,799. The company's fifty day simple moving average is $171.55 and its 200 day simple moving average is $158.53. Broadcom Inc. has a 1 year low of $90.31 and a 1 year 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 cap of $810.72 billion, a PE ratio of 151.55, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The company's quarterly revenue was up 47.3% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current 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 $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.22%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction on 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 directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last three months. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on AVGO shares. 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. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Cantor Fitzgerald lifted 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. Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $192.79.

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.