Davidson Capital Management Inc. Purchases 17,547 Shares of Broadcom Inc. (NASDAQ:AVGO)

Davidson Capital Management Inc. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 893.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,512 shares of the semiconductor manufacturer’s stock after buying an additional 17,547 shares during the quarter. Broadcom accounts for about 1.0% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Davidson Capital Management Inc.’s holdings in Broadcom were worth $3,366,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Castleview Partners LLC lifted its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Delta Asset Management LLC TN lifted its holdings in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the last quarter. Tsfg LLC lifted its holdings in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in Broadcom in the 3rd quarter worth approximately $42,000. Finally, Redmont Wealth Advisors LLC lifted its holdings in Broadcom by 900.0% in the 3rd quarter. Redmont Wealth Advisors LLC now owns 270 shares of the semiconductor manufacturer’s stock worth $47,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $168.92 on Friday. The business’s fifty day moving average price is $168.94 and its two-hundred day moving average price is $156.03. Broadcom Inc. has a fifty-two week low of $86.00 and a fifty-two week high of $186.42. The stock has a market capitalization of $788.95 billion, a price-to-earnings ratio of 146.76, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. 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 announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s revenue was up 47.3% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 184.19%.

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 transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AVGO shares. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Oppenheimer cut their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.54.

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.