Intrepid Capital Management Inc. Purchases 1,628 Shares of Broadcom Inc. (NASDAQ:AVGO)

Intrepid Capital Management Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,057.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,782 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,628 shares during the quarter. Intrepid Capital Management Inc.’s holdings in Broadcom were worth $307,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AVGO. AXA S.A. grew its stake in shares of 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 acquiring an additional 7,608 shares during the period. Catalyst Financial Partners LLC lifted its holdings in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Whittier Trust Co. lifted its holdings in Broadcom by 947.2% in the 3rd 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 holdings in Broadcom by 912.6% in the 3rd 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 in the last quarter. Finally, Signaturefd LLC lifted its holdings in Broadcom by 913.0% in the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after purchasing an additional 71,181 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was 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 of the company’s stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Rosenblatt Securities decreased their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. The Goldman Sachs Group upped their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” 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. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Finally, Truist Financial upped their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Stock Performance

Broadcom stock traded up $1.12 during mid-day trading on Tuesday, reaching $167.63. 1,416,902 shares of the company were exchanged, compared to its average volume of 28,955,020. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The firm’s 50-day simple moving average is $173.39 and its two-hundred day simple moving average is $161.69. 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 firm has a market cap of $782.93 billion, a PE ratio of 144.67, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. Equities analysts predict 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. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 184.19%.

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.