1,332 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Essex LLC

Essex LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,332 shares of the semiconductor manufacturer’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. raised its position in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of Broadcom in the first quarter valued at approximately $29,000. Delta Asset Management LLC TN boosted its stake in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Broadcom during the first quarter worth approximately $36,000. Finally, St. Johns Investment Management Company LLC raised its stake in Broadcom by 4,000.0% in the 1st quarter. St. Johns Investment Management Company LLC now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 40 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $179.99 on Tuesday. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The stock has a 50-day moving average of $167.14 and a two-hundred day moving average of $153.56. The company has a market cap of $837.83 billion, a P/E ratio of 7.74, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Bank of America reaffirmed a “buy” rating and set a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Morgan Stanley boosted their price target on shares of 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 shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, Truist Financial increased their price target on 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

About Broadcom

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.