Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Truvestments Capital LLC

Truvestments Capital LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 939.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,272 shares of the semiconductor manufacturer's stock after purchasing an additional 44,533 shares during the quarter. Broadcom comprises 2.3% of Truvestments Capital LLC's holdings, making the stock its 5th largest position. Truvestments Capital LLC's holdings in Broadcom were worth $8,499,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AVGO. Jacobs Levy Equity Management Inc. raised its stake in shares of Broadcom by 166.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer's stock worth $3,070,000 after purchasing an additional 1,446 shares during the last quarter. Redwood Investment Management LLC acquired a new stake in Broadcom during the first quarter worth about $1,015,000. Creekmur Asset Management LLC grew its holdings in Broadcom by 89.7% during the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after acquiring an additional 35 shares during the period. Montchanin Asset Management LLC acquired a new stake in Broadcom during the first quarter worth about $1,140,000. Finally, Kozak & Associates Inc. grew its holdings in Broadcom by 11.7% during the first quarter. Kozak & Associates Inc. now owns 362 shares of the semiconductor manufacturer's stock worth $510,000 after acquiring an additional 38 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom 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 sale, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. 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 quarter. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on AVGO shares. JPMorgan Chase & Co. raised their target price on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Cantor Fitzgerald raised their target price on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Finally, William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Two research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $195.96.

Broadcom Trading Down 3.1 %

Broadcom stock traded down $5.07 during trading on Wednesday, reaching $159.67. 19,699,495 shares of the company were exchanged, compared to its average volume of 29,185,664. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $745.75 billion, a P/E ratio of 143.13, a PEG ratio of 1.94 and a beta of 1.17. The stock's 50 day simple moving average is $173.76 and its two-hundred day simple moving average is $161.09.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 the consensus estimate of $12.98 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The company's revenue for the quarter was up 47.3% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.33%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 184.19%.

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.