Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Increased by Slow Capital Inc.

Slow Capital Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 898.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,301 shares of the semiconductor manufacturer’s stock after purchasing an additional 184,733 shares during the quarter. Broadcom makes up approximately 5.4% of Slow Capital Inc.’s holdings, making the stock its largest holding. Slow Capital Inc.’s holdings in Broadcom were worth $35,414,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Lion Street Advisors LLC grew its position in Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after buying an additional 6 shares in the last quarter. Buckley Wealth Management LLC lifted its stake in shares of Broadcom by 0.7% in the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after acquiring an additional 8 shares during the period. Legend Financial Advisors Inc. boosted its holdings in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares in the last quarter. Ascent Wealth Partners LLC raised its holdings in Broadcom by 0.3% during the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock worth $3,929,000 after purchasing an additional 8 shares in the last quarter. Finally, O Dell Group LLC raised its holdings in Broadcom by 2.3% during the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock worth $472,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $179.89 on Monday. The firm has a 50 day simple moving average of $166.52 and a 200 day simple moving average of $153.25. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $186.42. The stock has a market cap of $837.37 billion, a P/E ratio of 7.74, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 9.12%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AVGO shares. Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. UBS Group dropped their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Bank of America restated a “buy” rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, Mizuho increased their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two investment 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. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $191.54.

About Broadcom

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.