Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Coastline Trust Co

Coastline Trust Co raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 326.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,857 shares of the semiconductor manufacturer’s stock after buying an additional 2,952 shares during the quarter. Coastline Trust Co’s holdings in Broadcom were worth $665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Castleview Partners LLC raised its stake in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Tsfg LLC raised its stake in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Broadcom in the third quarter worth about $42,000. Highline Wealth Partners LLC bought a new position in Broadcom in the 3rd quarter valued at about $45,000. Finally, AlphaCentric Advisors LLC increased its stake in Broadcom by 859.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer’s stock valued at $45,000 after buying an additional 232 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % 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 in the last three months. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVGO. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Stock Performance

Shares of AVGO opened at $165.67 on Tuesday. The company has a market capitalization of $773.77 billion, a PE ratio of 143.94, a PEG ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company’s 50 day moving average price is $173.34 and its 200 day moving average price is $159.57. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the company posted $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal 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. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.28%. Broadcom’s dividend payout ratio (DPR) is 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.