LexAurum Advisors LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

LexAurum Advisors LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 645.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,325 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,476 shares during the quarter. LexAurum Advisors LLC’s holdings in Broadcom were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AVGO. Bangor Savings Bank raised its position in shares of Broadcom by 2.4% in the 1st quarter. Bangor Savings Bank now owns 424 shares of the semiconductor manufacturer’s stock worth $562,000 after purchasing an additional 10 shares during the last quarter. Salem Investment Counselors Inc. raised its position in shares of Broadcom by 18.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 2,635 shares of the semiconductor manufacturer’s stock worth $3,492,000 after purchasing an additional 402 shares during the last quarter. High Net Worth Advisory Group LLC bought a new stake in Broadcom in the 1st quarter worth about $333,000. Northwest Investment Counselors LLC bought a new stake in Broadcom in the 1st quarter worth about $178,000. Finally, CHICAGO TRUST Co NA grew its stake in shares of Broadcom by 11.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 1,755 shares of the semiconductor manufacturer’s stock valued at $2,326,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVGO shares. Rosenblatt Securities cut their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America restated a “buy” rating and set a $215.00 price target (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Down 0.9 %

Shares of AVGO opened at $179.89 on Friday. The stock has a market capitalization of $837.37 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The business’s 50 day simple moving average is $166.52 and its 200-day simple moving average is $153.25. 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 issued its quarterly earnings data 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. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $0.95 EPS. As a group, equities analysts expect that Broadcom Inc. will post 3.78 earnings per share 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 dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is 9.12%.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.