Broadcom Inc. (NASDAQ:AVGO) is 3Chopt Investment Partners LLC’s 10th Largest Position

3Chopt Investment Partners LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 891.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,233 shares of the semiconductor manufacturer’s stock after buying an additional 25,385 shares during the quarter. Broadcom comprises approximately 1.7% of 3Chopt Investment Partners LLC’s portfolio, making the stock its 10th largest position. 3Chopt Investment Partners LLC’s holdings in Broadcom were worth $4,870,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. increased its position in Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after buying an additional 59 shares during the period. Petredis Investment Advisors LLC boosted its holdings in shares of Broadcom by 1.1% in the second quarter. Petredis Investment Advisors LLC now owns 5,758 shares of the semiconductor manufacturer’s stock valued at $9,245,000 after acquiring an additional 62 shares in the last quarter. Tennessee Valley Asset Management Partners grew its stake in shares of Broadcom by 5.2% in the second quarter. Tennessee Valley Asset Management Partners now owns 1,288 shares of the semiconductor manufacturer’s stock worth $2,068,000 after acquiring an additional 64 shares during the last quarter. Winthrop Advisory Group LLC increased its holdings in shares of Broadcom by 25.7% during the 2nd quarter. Winthrop Advisory Group LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 66 shares during the period. Finally, Delta Investment Management LLC increased its stake in Broadcom by 14.9% during the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after acquiring an additional 66 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of Broadcom stock opened at $178.94 on Tuesday. The firm has a market cap of $835.75 billion, a PE ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13. Broadcom Inc. has a twelve month low of $95.61 and a twelve month high of $186.42. The business has a 50-day moving average price of $173.14 and a 200 day moving average price of $163.05. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 completion of the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. 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 ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Finally, The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Three equities research 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $195.96.

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.