Winthrop Advisory Group LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,165.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,088 shares of the semiconductor manufacturer's stock after buying an additional 3,765 shares during the period. Winthrop Advisory Group LLC's holdings in Broadcom were worth $705,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of AVGO. AXA S.A. lifted its holdings in shares of Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after acquiring an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC raised its position in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after purchasing an additional 18,206 shares during the period. Whittier Trust Co. boosted its position in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after buying an additional 623,983 shares during the period. Summit Place Financial Advisors LLC grew its stake in shares of Broadcom by 912.6% during the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock valued at $1,691,000 after buying an additional 8,834 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Broadcom by 913.0% in the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock worth $13,624,000 after buying an additional 71,181 shares during the period. Institutional investors own 76.43% of the company's stock.
Several equities research analysts recently weighed in on the company. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Benchmark reiterated a "buy" rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Finally, Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.
Get Our Latest Analysis on Broadcom
Shares of NASDAQ:AVGO opened at $183.64 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $170.75 and a two-hundred day simple moving average of $157.78. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The stock has a market capitalization of $857.70 billion, a price-to-earnings ratio of 159.69, a PEG ratio of 2.11 and a beta of 1.17.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. Broadcom's quarterly revenue was up 47.3% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is 184.35%.
In other Broadcom 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 directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were 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 in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were 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 directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last three months. Insiders own 2.00% of the company's stock.
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.
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