Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by West Michigan Advisors LLC

West Michigan Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 932.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,103 shares of the semiconductor manufacturer’s stock after purchasing an additional 22,671 shares during the period. Broadcom makes up approximately 1.3% of West Michigan Advisors LLC’s holdings, making the stock its 19th biggest position. West Michigan Advisors LLC’s holdings in Broadcom were worth $4,330,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kowal Investment Group LLC lifted its holdings in Broadcom by 9.4% in the first quarter. Kowal Investment Group LLC now owns 850 shares of the semiconductor manufacturer’s stock worth $1,127,000 after purchasing an additional 73 shares during the period. Little House Capital LLC lifted its stake in shares of Broadcom by 22.6% in the 1st quarter. Little House Capital LLC now owns 4,205 shares of the semiconductor manufacturer’s stock worth $5,573,000 after acquiring an additional 774 shares during the period. Miracle Mile Advisors LLC boosted its holdings in shares of Broadcom by 5.6% in the first quarter. Miracle Mile Advisors LLC now owns 4,611 shares of the semiconductor manufacturer’s stock valued at $6,111,000 after acquiring an additional 244 shares in the last quarter. CCG Wealth Management LLC increased its stake in shares of Broadcom by 13.5% during the first quarter. CCG Wealth Management LLC now owns 210 shares of the semiconductor manufacturer’s stock valued at $278,000 after acquiring an additional 25 shares during the period. Finally, Claro Advisors LLC raised its holdings in Broadcom by 39.6% during the first quarter. Claro Advisors LLC now owns 3,700 shares of the semiconductor manufacturer’s stock worth $4,904,000 after purchasing an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 1.0 %

AVGO stock opened at $173.00 on Monday. The company has a 50 day moving average of $168.18 and a two-hundred day moving average of $154.68. The company has a market cap of $805.29 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. 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 (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 during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the company earned $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company 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 boost 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 dividend yield of 1.23%. Broadcom’s payout ratio is presently 9.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $210.00 price target on shares of Broadcom 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 issued an “outperform” rating on the stock. Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, UBS Group cut their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $191.54.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction 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 completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. 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.