Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by West Tower Group LLC

West Tower Group LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 250.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 700 shares of the semiconductor manufacturer’s stock after acquiring an additional 500 shares during the quarter. West Tower Group LLC’s holdings in Broadcom were worth $121,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. AXA S.A. increased its stake in Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after buying an additional 7,608 shares during the period. Catalyst Financial Partners LLC increased its stake in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after acquiring an additional 18,206 shares during the period. Whittier Trust Co. raised its holdings in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after purchasing an additional 623,983 shares in the last quarter. Summit Place Financial Advisors LLC lifted its position in Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after purchasing an additional 8,834 shares during the period. Finally, Signaturefd LLC boosted its stake in Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock valued at $13,624,000 after purchasing an additional 71,181 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVGO. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted 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. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

Broadcom Stock Down 3.1 %

AVGO stock opened at $159.67 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market cap of $745.75 billion, a PE ratio of 138.72, a PEG ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The company has a fifty day simple moving average of $173.72 and a 200 day simple moving average of $161.28.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.33%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. 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 firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is currently owned by company insiders.

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.