Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by GDS Wealth Management

GDS Wealth Management raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 807.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,737 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,554 shares during the period. GDS Wealth Management’s holdings in Broadcom were worth $1,852,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Castleview Partners LLC raised its stake 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 buying an additional 134 shares in the last quarter. Delta Asset Management LLC TN increased its holdings in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares during the last quarter. Tsfg LLC raised its position in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new position in Broadcom during the third quarter worth $42,000. Finally, Highline Wealth Partners LLC acquired a new position in Broadcom in the third quarter worth $45,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s 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 trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This trade represents a 11.26 % 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 quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO opened at $170.38 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm’s 50 day moving average is $171.93 and its 200-day moving average is $158.86. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The stock has a market capitalization of $795.77 billion, a P/E ratio of 148.03, a P/E/G ratio of 2.07 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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. 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 analyst estimates of $12.98 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.19%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Truist Financial boosted their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Two investment 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, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target 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.