Greenwood Gearhart Inc. Acquires 42,682 Shares of Broadcom Inc. (NASDAQ:AVGO)

Greenwood Gearhart Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7,567.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,246 shares of the semiconductor manufacturer’s stock after acquiring an additional 42,682 shares during the quarter. Greenwood Gearhart Inc.’s holdings in Broadcom were worth $7,460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NCP Inc. raised its position in Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the last quarter. ORG Partners LLC raised its position in shares of Broadcom by 1,197.8% during the second quarter. ORG Partners LLC now owns 597 shares of the semiconductor manufacturer’s stock worth $978,000 after acquiring an additional 551 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its stake in shares of Broadcom by 2.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 3,593 shares of the semiconductor manufacturer’s stock valued at $5,768,000 after acquiring an additional 75 shares during the period. Sky Investment Group LLC boosted its holdings in Broadcom by 48.9% in the second quarter. Sky Investment Group LLC now owns 396 shares of the semiconductor manufacturer’s stock valued at $636,000 after acquiring an additional 130 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Broadcom by 48.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,347 shares of the semiconductor manufacturer’s stock worth $42,301,000 after purchasing an additional 8,652 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $178.94 on Tuesday. 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 business’s 50-day simple moving average is $173.14 and its 200 day simple moving average is $163.05. The firm has a market capitalization of $835.75 billion, a PE ratio of 155.60, a PEG ratio of 2.11 and a beta of 1.13. Broadcom Inc. has a 52-week low of $95.61 and a 52-week high of $186.42.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, 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 note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.96.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the firm’s 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 sale, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.