Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Tree Line Advisors Hong Kong Ltd.

Tree Line Advisors Hong Kong Ltd. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,004.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,000 shares of the semiconductor manufacturer's stock after acquiring an additional 268,300 shares during the period. Broadcom makes up approximately 11.8% of Tree Line Advisors Hong Kong Ltd.'s investment portfolio, making the stock its 5th biggest position. Tree Line Advisors Hong Kong Ltd.'s holdings in Broadcom were worth $50,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Brooklyn Investment Group lifted its holdings in shares of Broadcom by 988.2% in the 3rd quarter. Brooklyn Investment Group now owns 27,357 shares of the semiconductor manufacturer's stock worth $4,719,000 after acquiring an additional 24,843 shares during the last quarter. Covington Investment Advisors Inc. raised its position in Broadcom by 907.3% in the 3rd quarter. Covington Investment Advisors Inc. now owns 147,497 shares of the semiconductor manufacturer's stock worth $25,443,000 after purchasing an additional 132,854 shares during the period. D.A. Davidson & CO. lifted its stake in Broadcom by 892.1% in the third quarter. D.A. Davidson & CO. now owns 706,380 shares of the semiconductor manufacturer's stock worth $121,851,000 after purchasing an additional 635,183 shares during the last quarter. FMR LLC boosted its position in shares of Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Finally, Summit Financial Wealth Advisors LLC grew its stake in shares of Broadcom by 910.2% during the third quarter. Summit Financial Wealth Advisors LLC now owns 6,930 shares of the semiconductor manufacturer's stock valued at $1,195,000 after buying an additional 6,244 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 3.1 %

Shares of AVGO traded down $5.07 during midday trading on Thursday, hitting $159.67. 19,722,723 shares of the company's stock traded hands, compared to its average volume of 29,185,664. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $745.75 billion, a price-to-earnings ratio of 138.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The firm's fifty day moving average is $173.57 and its 200-day moving average is $161.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $12.98 billion. During the same period last year, the business earned $0.95 EPS. Broadcom's revenue for the quarter 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 year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is 184.35%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 25,200 shares of the 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 sale, the insider now directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating for the company. Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Benchmark reissued a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Finally, Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $195.96.

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.