Northwest Investment Counselors LLC Buys 1,642 Shares of Broadcom Inc. (NASDAQ:AVGO)

Northwest Investment Counselors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 897.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,825 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,642 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Broadcom were worth $315,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Legend Financial Advisors Inc. increased its stake in Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the period. Castleview Partners LLC boosted its position in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Richardson Capital Management LLC bought a new stake in shares of Broadcom during the first quarter valued at approximately $29,000. Delta Asset Management LLC TN boosted its position in shares of Broadcom by 242.9% during the first 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 in the last quarter. Finally, Redmont Wealth Advisors LLC bought a new stake in Broadcom in the first quarter worth $36,000. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 150,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AVGO shares. Cantor Fitzgerald boosted 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. Oppenheimer reduced their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. UBS Group reduced their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Mizuho increased their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Price Performance

Shares of AVGO opened at $179.38 on Wednesday. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The stock’s 50 day moving average is $167.61 and its two-hundred day moving average is $153.88. The firm has a market capitalization of $834.99 billion, a PE ratio of 7.72, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The company’s quarterly revenue 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 year.

Broadcom Increases Dividend

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

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.