Broadcom Inc. (NASDAQ:AVGO) is Laffer Tengler Investments Inc.’s 2nd Largest Position

Laffer Tengler Investments Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 830.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 104,830 shares of the semiconductor manufacturer’s stock after purchasing an additional 93,563 shares during the quarter. Broadcom accounts for approximately 3.7% of Laffer Tengler Investments Inc.’s investment portfolio, making the stock its 2nd largest position. Laffer Tengler Investments Inc.’s holdings in Broadcom were worth $18,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Vanguard Group Inc. lifted its position in Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the last quarter. Swedbank AB lifted its position in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after buying an additional 16,453,718 shares during the last quarter. Van ECK Associates Corp lifted its position in Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after buying an additional 11,453,554 shares during the last quarter. Raymond James & Associates lifted its position in Broadcom by 855.4% in the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after buying an additional 11,347,563 shares during the last quarter. Finally, National Pension Service lifted its position in Broadcom by 1,045.4% in the third quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock worth $1,427,120,000 after buying an additional 7,550,878 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO stock opened at $170.38 on Friday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm has a market capitalization of $795.77 billion, a price-to-earnings ratio of 148.03, a PEG ratio of 2.07 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock’s 50-day simple moving average is $171.93 and its 200-day simple moving average is $158.86.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts forecast 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 issued a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.24%. Broadcom’s payout ratio is 184.19%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. 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 research report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Insider Buying and Selling

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 value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. 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 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 value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % 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 over the last quarter. 2.00% of the stock is currently owned by company 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.