Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Intelligence Driven Advisers LLC

Intelligence Driven Advisers LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 563.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,652 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,951 shares during the period. Intelligence Driven Advisers LLC’s holdings in Broadcom were worth $802,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hillsdale Investment Management Inc. raised its position in shares of Broadcom by 35.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 420 shares of the semiconductor manufacturer’s stock valued at $557,000 after buying an additional 110 shares during the period. PAX Financial Group LLC raised its position in shares of Broadcom by 16.8% during the 1st quarter. PAX Financial Group LLC now owns 230 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 33 shares during the period. Delta Asset Management LLC TN raised its position in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares during the period. PYA Waltman Capital LLC raised its position in shares of Broadcom by 1.1% during the 1st quarter. PYA Waltman Capital LLC now owns 2,071 shares of the semiconductor manufacturer’s stock valued at $2,744,000 after buying an additional 23 shares during the period. Finally, Capitolis Liquid Global Markets LLC raised its position in shares of Broadcom by 2,234.0% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 116,700 shares of the semiconductor manufacturer’s stock valued at $154,675,000 after buying an additional 111,700 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Rosenblatt Securities cut their target price 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, Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. The trade was a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $164.84 on Monday. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The firm has a market capitalization of $769.90 billion, a P/E ratio of 143.21, a P/E/G ratio of 1.94 and a beta of 1.17. 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’s fifty day moving average price is $172.84 and its 200 day moving average price is $159.35.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued 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 dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 184.19%.

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.