Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by West Wealth Group LLC

West Wealth Group LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 945.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,679 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,753 shares during the quarter. Broadcom accounts for about 0.5% of West Wealth Group LLC’s holdings, making the stock its 24th biggest holding. West Wealth Group LLC’s holdings in Broadcom were worth $1,670,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AVGO. Castleview Partners LLC increased its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the period. Delta Asset Management LLC TN increased its holdings in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the 1st quarter worth approximately $36,000. Tsfg LLC increased its holdings in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares during the period. Finally, Krane Funds Advisors LLC acquired a new position in Broadcom in the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 0.6 %

Shares of AVGO opened at $172.02 on Tuesday. Broadcom Inc. has a 52-week low of $82.72 and a 52-week high of $186.42. The company has a market capitalization of $800.73 billion, a PE ratio of 7.40, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The stock has a fifty day simple moving average of $168.26 and a two-hundred day simple moving average of $154.95. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $12.98 billion. During the same period last year, the company earned $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Analyst Ratings Changes

Several equities research analysts have commented on AVGO shares. Oppenheimer lowered their price objective 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. Mizuho upped their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, UBS Group lowered their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 399,460 shares of the company’s stock, 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 sold 311,080 shares of company stock valued at $53,540,590 in the last three months. 2.00% of the stock is currently owned by insiders.

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.