AlphaCentric Advisors LLC Purchases 232 Shares of Broadcom Inc. (NASDAQ:AVGO)

AlphaCentric Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 859.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259 shares of the semiconductor manufacturer’s stock after acquiring an additional 232 shares during the period. AlphaCentric Advisors LLC’s holdings in Broadcom were worth $45,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AVGO. Nvwm LLC boosted its stake in Broadcom by 17.1% during the 1st quarter. Nvwm LLC now owns 1,556 shares of the semiconductor manufacturer’s stock valued at $2,070,000 after purchasing an additional 227 shares during the period. Zevenbergen Capital Investments LLC boosted its position in shares of Broadcom by 5.7% in the first quarter. Zevenbergen Capital Investments LLC now owns 31,700 shares of the semiconductor manufacturer’s stock valued at $42,015,000 after acquiring an additional 1,700 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of Broadcom in the first quarter worth $2,121,000. Illinois Municipal Retirement Fund increased its position in Broadcom by 26.3% during the first quarter. Illinois Municipal Retirement Fund now owns 26,844 shares of the semiconductor manufacturer’s stock worth $35,579,000 after acquiring an additional 5,584 shares during the period. Finally, Forsta AP Fonden raised its stake in Broadcom by 7.9% during the 1st quarter. Forsta AP Fonden now owns 121,964 shares of the semiconductor manufacturer’s stock valued at $161,652,000 after purchasing an additional 8,900 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $183.81 on Friday. Broadcom Inc. has a 1 year low of $89.90 and a 1 year high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm’s 50 day moving average is $169.80 and its 200-day moving average is $156.94. The firm has a market capitalization of $858.50 billion, a price-to-earnings ratio of 159.70, a PEG ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted 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. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Sell-side analysts forecast 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. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.15%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Rosenblatt Securities reduced their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Finally, Truist Financial boosted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $192.79.

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.