Broadcom Inc. (NASDAQ:AVGO) Stake Increased by TFB Advisors LLC

TFB Advisors LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 916.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,214 shares of the semiconductor manufacturer's stock after buying an additional 6,504 shares during the quarter. TFB Advisors LLC's holdings in Broadcom were worth $1,244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Delta Asset Management LLC TN boosted its holdings in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 17 shares in the last quarter. Tsfg LLC increased its position in shares of Broadcom by 1,073.7% during 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 last quarter. Krane Funds Advisors LLC purchased a new position in shares of Broadcom during the 3rd quarter valued at about $42,000. Finally, Highline Wealth Partners LLC bought a new stake in Broadcom in the 3rd quarter worth approximately $45,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVGO shares. Truist Financial raised their price objective on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. StockNews.com cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their target price on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Two 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 stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Activity

In other news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction on Thursday, September 19th. The shares were 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 directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 3.2 %

Shares of Broadcom stock traded down $5.82 during mid-day trading on Monday, hitting $177.82. The stock had a trading volume of 5,887,924 shares, compared to its average volume of 29,673,500. The firm has a 50-day moving average of $170.75 and a two-hundred day moving average of $157.78. 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 firm has a market cap of $830.52 billion, a P/E ratio of 156.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

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 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 company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same period last year, the firm earned $0.95 earnings per share. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. Sell-side analysts forecast 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. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.35%.

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.