Greenwood Gearhart Inc. Has $7.46 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Greenwood Gearhart Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 7,567.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 43,246 shares of the semiconductor manufacturer’s stock after purchasing an additional 42,682 shares during the period. Greenwood Gearhart Inc.’s holdings in Broadcom were worth $7,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in AVGO. Kiely Wealth Advisory Group Inc. bought a new stake in Broadcom in the 2nd quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom in the second quarter valued at approximately $136,000. American Capital Advisory LLC bought a new stake in shares of Broadcom in the second quarter valued at approximately $169,000. Semus Wealth Partners LLC acquired a new stake in Broadcom during the second quarter worth approximately $202,000. Finally, Palisades Hudson Asset Management L.P. bought a new position in Broadcom during the 2nd quarter worth $204,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s 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 $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 3.24 % 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 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

AVGO opened at $178.94 on Tuesday. Broadcom Inc. has a 1 year low of $95.61 and a 1 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. The firm’s fifty day moving average price is $173.14 and its two-hundred day moving average price is $163.05. The company has a market capitalization of $835.75 billion, a price-to-earnings ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13.

Analyst Ratings Changes

AVGO has been the topic of several analyst reports. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.96.

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.