Trivant Custom Portfolio Group LLC Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Trivant Custom Portfolio Group LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 871.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,420 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,068 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Broadcom were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. J. W. Coons Advisors LLC boosted its stake in shares of Broadcom by 5.1% during the 4th quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $1,574,000 after acquiring an additional 69 shares during the last quarter. Gabelli Funds LLC lifted its position in Broadcom by 25.9% during the fourth quarter. Gabelli Funds LLC now owns 5,107 shares of the semiconductor manufacturer’s stock valued at $5,701,000 after purchasing an additional 1,049 shares in the last quarter. Exencial Wealth Advisors LLC grew its holdings in Broadcom by 6.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 1,594 shares of the semiconductor manufacturer’s stock valued at $1,779,000 after purchasing an additional 97 shares during the period. Morningstar Investment Services LLC increased its position in Broadcom by 151.0% in the fourth quarter. Morningstar Investment Services LLC now owns 2,824 shares of the semiconductor manufacturer’s stock worth $3,170,000 after buying an additional 1,699 shares in the last quarter. Finally, Waterloo Capital L.P. raised its stake in shares of Broadcom by 197.8% in the fourth quarter. Waterloo Capital L.P. now owns 5,482 shares of the semiconductor manufacturer’s stock worth $6,120,000 after buying an additional 3,641 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom 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 completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,452 shares of company stock worth $52,950,238 over the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Evercore ISI increased their price objective on shares of Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Morgan Stanley increased their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Mizuho boosted their price objective on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Jefferies Financial Group increased their target price on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Broadcom Trading Up 2.8 %

Shares of NASDAQ:AVGO traded up $4.75 during trading on Friday, reaching $176.64. The company’s stock had a trading volume of 17,941,387 shares, compared to its average volume of 31,198,639. The stock has a market capitalization of $822.24 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.17 and a 12 month high of $185.16. 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 firm’s 50 day simple moving average is $159.64 and its two-hundred day simple moving average is $149.81.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. On average, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.20%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

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.