Tranquility Partners LLC Has $1.03 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Tranquility Partners LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 852.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,942 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,318 shares during the quarter. Tranquility Partners LLC’s holdings in Broadcom were worth $1,025,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Castleview Partners LLC grew its position in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the period. Tsfg LLC boosted its position in Broadcom by 1,073.7% in 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 in the last quarter. Krane Funds Advisors LLC bought a new stake in Broadcom during the third quarter worth about $42,000. Highline Wealth Partners LLC bought a new position in shares of Broadcom in the third quarter valued at approximately $45,000. Finally, AlphaCentric Advisors LLC boosted its holdings in shares of Broadcom by 859.3% in the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer’s stock worth $45,000 after acquiring an additional 232 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.4 %

AVGO stock opened at $163.89 on Friday. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The business’s 50 day simple moving average is $173.77 and its 200 day simple moving average is $160.37. 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 has a market capitalization of $765.45 billion, a PE ratio of 142.39, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared 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 a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AVGO shares. JPMorgan Chase & Co. raised their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. The Goldman Sachs Group boosted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley increased their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

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.