Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Western Financial Corp CA

Western Financial Corp CA grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,080.4% in the third quarter, Holdings Channel.com reports. The firm owned 11,237 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,285 shares during the period. Broadcom comprises approximately 1.1% of Western Financial Corp CA’s investment portfolio, making the stock its 19th largest position. Western Financial Corp CA’s holdings in Broadcom were worth $1,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Palouse Capital Management Inc. raised its position in Broadcom by 885.9% during the third quarter. Palouse Capital Management Inc. now owns 700 shares of the semiconductor manufacturer’s stock valued at $121,000 after buying an additional 629 shares during the period. Carolina Wealth Advisors LLC lifted its position in shares of Broadcom by 372.5% in the third quarter. Carolina Wealth Advisors LLC now owns 32,263 shares of the semiconductor manufacturer’s stock worth $5,565,000 after purchasing an additional 25,435 shares in the last quarter. Northwest Investment Counselors LLC lifted its position in shares of Broadcom by 897.3% in the third quarter. Northwest Investment Counselors LLC now owns 1,825 shares of the semiconductor manufacturer’s stock worth $315,000 after purchasing an additional 1,642 shares in the last quarter. Retirement Guys Formula LLC boosted its holdings in shares of Broadcom by 957.4% during the third quarter. Retirement Guys Formula LLC now owns 8,956 shares of the semiconductor manufacturer’s stock worth $1,545,000 after purchasing an additional 8,109 shares during the period. Finally, Border to Coast Pensions Partnership Ltd grew its position in Broadcom by 902.7% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 674,368 shares of the semiconductor manufacturer’s stock valued at $115,989,000 after purchasing an additional 607,115 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Rosenblatt Securities lowered their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Trading Down 0.3 %

Broadcom stock opened at $179.38 on Wednesday. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The stock has a market cap of $834.99 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The business has a 50 day moving average price of $167.61 and a two-hundred day moving average price of $153.88. 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 issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during 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%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

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

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The stock was 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. 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 can be accessed through this link. In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’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 transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last three months. Company insiders own 2.00% of the company’s stock.

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.