CWA Asset Management Group LLC Takes $5.82 Million Position in Broadcom Inc. (NASDAQ:AVGO)

CWA Asset Management Group LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 33,726 shares of the semiconductor manufacturer’s stock, valued at approximately $5,818,000.

A number of other institutional investors also recently bought and sold shares of the stock. Castleview Partners LLC grew its holdings in Broadcom by 1,030.8% during the 3rd 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 boosted its position in shares of 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 buying an additional 17 shares during the period. Tsfg LLC grew its stake in shares of 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 buying an additional 204 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Broadcom during the 3rd quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC purchased a new position in Broadcom during the 3rd quarter valued at $45,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Rosenblatt Securities reduced their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Truist Financial upped their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Finally, William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on 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 owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated 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 owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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. This represents 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 worth $53,540,590 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $178.91 on Tuesday. The company has a 50 day moving average of $170.75 and a two-hundred day moving average of $157.78. 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 twelve month low of $90.31 and a twelve month high of $186.42. The company has a market cap of $835.61 billion, a price-to-earnings ratio of 155.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 firm 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 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed 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 a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

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.