Lion Street Advisors LLC Purchases 3,763 Shares of Broadcom Inc. (NASDAQ:AVGO)

Lion Street Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,161.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,087 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,763 shares during the period. Lion Street Advisors LLC’s holdings in Broadcom were worth $705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in Broadcom by 6.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 227,015 shares of the semiconductor manufacturer’s stock worth $253,405,000 after purchasing an additional 14,121 shares during the period. Optimist Retirement Group LLC purchased a new stake in Broadcom in the 4th quarter valued at about $3,229,000. Studio Investment Management LLC grew its stake in Broadcom by 25.4% in the 4th quarter. Studio Investment Management LLC now owns 2,527 shares of the semiconductor manufacturer’s stock worth $2,821,000 after acquiring an additional 512 shares in the last quarter. Contour Asset Management LLC increased its position in shares of Broadcom by 7.1% during the fourth quarter. Contour Asset Management LLC now owns 103,462 shares of the semiconductor manufacturer’s stock worth $115,489,000 after acquiring an additional 6,879 shares during the period. Finally, Oarsman Capital Inc. raised its stake in shares of Broadcom by 2.9% during the fourth quarter. Oarsman Capital Inc. now owns 3,188 shares of the semiconductor manufacturer’s stock valued at $3,559,000 after acquiring an additional 90 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $172.32, for a total value of $3,446,400.00. Following the transaction, the chief executive officer now owns 1,151,910 shares in the company, valued at $198,497,131.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 295,130 shares of company stock worth $50,646,622 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $181.48 on Friday. The stock has a market cap of $847.62 billion, a price-to-earnings ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The company has a 50 day simple moving average of $162.91 and a two-hundred day simple moving average of $151.64. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 184.19%.

Analyst Ratings Changes

Several research analysts recently issued reports on AVGO shares. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. The Goldman Sachs Group upped their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.29.

Broadcom Company 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.