Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,011.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,869 shares of the semiconductor manufacturer’s stock after acquiring an additional 16,261 shares during the quarter. Broadcom comprises 2.1% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 11th biggest position. Wolff Wiese Magana LLC’s holdings in Broadcom were worth $3,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legend Financial Advisors Inc. boosted its holdings in Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC acquired a new position in Broadcom in the 1st quarter valued at about $29,000. Delta Asset Management LLC TN boosted 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 valued at $32,000 after purchasing an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the 1st quarter valued at about $36,000. Finally, Tsfg LLC boosted its holdings in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Broadcom stock opened at $181.53 on Friday. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The company’s 50 day moving average is $165.88 and its two-hundred day moving average is $152.92. The firm has a market cap of $845.00 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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 net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the business earned $0.95 EPS. The company’s revenue was up 47.3% on a year-over-year basis. On average, research analysts expect 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. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Oppenheimer decreased their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report 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 for the company. Finally, JPMorgan Chase & Co. increased their price objective 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 issued a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

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.