Broadcom Inc. (NASDAQ:AVGO) is Oak Ridge Investments LLC’s 8th Largest Position

Oak Ridge Investments LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,378.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 183,357 shares of the semiconductor manufacturer’s stock after acquiring an additional 170,955 shares during the period. Broadcom accounts for 2.7% of Oak Ridge Investments LLC’s portfolio, making the stock its 8th largest holding. Oak Ridge Investments LLC’s holdings in Broadcom were worth $31,629,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of AVGO. Castleview Partners LLC lifted its position in 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 during the last quarter. Delta Asset Management LLC TN lifted its position in 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 during the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Broadcom in the 3rd quarter worth about $42,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Broadcom in the 3rd quarter worth about $45,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.5 %

Shares of Broadcom stock opened at $168.92 on Monday. The firm’s 50 day moving average price is $168.94 and its 200-day moving average price is $156.03. 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 Inc. has a 52-week low of $86.00 and a 52-week high of $186.42. The company has a market cap of $788.95 billion, a P/E ratio of 146.76, a PEG ratio of 2.73 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 184.19%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. 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 available at this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. 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 available at this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Oppenheimer lowered their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. UBS Group lowered their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. The Goldman Sachs Group raised their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Mizuho raised their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. 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 stock. Based on data from MarketBeat.com, the company has a consensus 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.