Silver Coast Investments LLC Buys 2,395 Shares of Broadcom Inc. (NASDAQ:AVGO)

Silver Coast Investments LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,069.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,619 shares of the semiconductor manufacturer’s stock after buying an additional 2,395 shares during the period. Silver Coast Investments LLC’s holdings in Broadcom were worth $452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Broadcom by 6.4% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 479 shares of the semiconductor manufacturer’s stock valued at $635,000 after buying an additional 29 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Broadcom by 0.7% in the 1st quarter. Signaturefd LLC now owns 7,390 shares of the semiconductor manufacturer’s stock worth $9,794,000 after purchasing an additional 51 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Broadcom by 141.7% in the 1st quarter. Richardson Financial Services Inc. now owns 145 shares of the semiconductor manufacturer’s stock worth $192,000 after purchasing an additional 85 shares in the last quarter. Team Hewins LLC increased its holdings in shares of Broadcom by 2.5% in the 1st quarter. Team Hewins LLC now owns 1,731 shares of the semiconductor manufacturer’s stock worth $2,294,000 after purchasing an additional 43 shares in the last quarter. Finally, 9258 Wealth Management LLC increased its holdings in shares of Broadcom by 2.4% in the 1st quarter. 9258 Wealth Management LLC now owns 3,979 shares of the semiconductor manufacturer’s stock worth $5,274,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $168.55 on Tuesday. The stock’s 50-day simple moving average is $169.12 and its 200-day simple moving average is $156.30. Broadcom Inc. has a 52 week low of $87.12 and a 52 week high of $186.42. The company has a market capitalization of $787.23 billion, a price-to-earnings ratio of 146.44, a PEG ratio of 2.73 and a beta of 1.17. 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 EPS for the quarter, beating 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 the consensus estimate of $12.98 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The business’s revenue was up 47.3% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. 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 1.26%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the business’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 transaction of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

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.