Vestor Capital LLC Buys 361,264 Shares of Broadcom Inc. (NASDAQ:AVGO)

Vestor Capital LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 980.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 398,128 shares of the semiconductor manufacturer's stock after acquiring an additional 361,264 shares during the period. Broadcom comprises about 5.4% of Vestor Capital LLC's investment portfolio, making the stock its 4th largest position. Vestor Capital LLC's holdings in Broadcom were worth $68,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Castleview Partners LLC increased its position 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 purchasing an additional 134 shares in the last quarter. Delta Asset Management LLC TN increased its holdings in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 17 shares in the last quarter. Tsfg LLC increased its holdings in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom in the third quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Broadcom in the 3rd quarter worth approximately $45,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AVGO shares. The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Morgan Stanley upped their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Rosenblatt Securities decreased their price objective on 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, StockNews.com downgraded Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Stock Performance

NASDAQ AVGO traded up $4.33 during trading on Thursday, reaching $183.88. 13,179,859 shares of the company's stock were exchanged, compared to its average volume of 29,831,672. Broadcom Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $186.42. The stock has a market capitalization of $858.83 billion, a P/E ratio of 159.90, a PEG ratio of 1.99 and a beta of 1.17. The business has a 50 day moving average price of $169.80 and a 200-day moving average price of $156.94. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. Broadcom's revenue was up 47.3% compared to the same quarter last year. Sell-side analysts forecast 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. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 184.35%.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the director now owns 34,750 shares of the company's stock, valued at $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Gayla J. Delly sold 750 shares of the firm'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 sale, the director now directly owns 34,750 shares of the company's stock, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred 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 approximately $217,594,136.70. The trade was 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 quarter. 2.00% of the stock is currently owned by corporate insiders.

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.