Geller Advisors LLC Buys 16,414 Shares of Broadcom Inc. (NASDAQ:AVGO)

Geller Advisors LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 928.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,182 shares of the semiconductor manufacturer’s stock after acquiring an additional 16,414 shares during the quarter. Geller Advisors LLC’s holdings in Broadcom were worth $3,136,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AVGO. State Street Corp increased its position in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares in the last quarter. FMR LLC increased its holdings in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after buying an additional 30,674,902 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Broadcom by 962.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock worth $5,519,591,000 after buying an additional 28,985,434 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on AVGO shares. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Cantor Fitzgerald increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Price Performance

AVGO stock opened at $179.53 on Monday. The firm has a 50 day simple moving average of $173.01 and a two-hundred day simple moving average of $162.79. The stock has a market cap of $838.51 billion, a PE ratio of 155.98, a P/E/G ratio of 2.01 and a beta of 1.13. Broadcom Inc. has a one year low of $90.36 and a one year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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 analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

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.