Thompson Siegel & Walmsley LLC Buys 86,402 Shares of Broadcom Inc. (NASDAQ:AVGO)

Thompson Siegel & Walmsley LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 906.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,935 shares of the semiconductor manufacturer's stock after acquiring an additional 86,402 shares during the quarter. Thompson Siegel & Walmsley LLC's holdings in Broadcom were worth $16,549,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Clear Point Advisors Inc. lifted its holdings in shares of Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after purchasing an additional 31 shares during the last quarter. Indiana Trust & Investment Management CO lifted its stake in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after buying an additional 15 shares in the last quarter. Creekmur Asset Management LLC lifted its stake in Broadcom by 89.7% during the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock valued at $98,000 after buying an additional 35 shares in the last quarter. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Broadcom in the second quarter worth about $128,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Broadcom in the second quarter worth approximately $136,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating for the company. TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Rosenblatt Securities lowered their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Finally, Benchmark reiterated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $0.29 during trading on Friday, reaching $164.23. The stock had a trading volume of 17,332,473 shares, compared to its average volume of 18,615,522. 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 fifty day simple moving average of $173.70 and a two-hundred day simple moving average of $160.62. The firm has a market capitalization of $767.05 billion, a price-to-earnings ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's payout ratio is currently 184.35%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction that occurred on 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Company 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.