Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Telos Capital Management Inc.

Telos Capital Management Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 924.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,110 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,709 shares during the period. Telos Capital Management Inc.’s holdings in Broadcom were worth $709,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AVGO. AXA S.A. lifted its holdings in shares of Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after buying an additional 7,608 shares during the period. Whittier Trust Co. increased its holdings in Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares in the last quarter. Godsey & Gibb Inc. raised its position in shares of Broadcom by 887.0% in the third quarter. Godsey & Gibb Inc. now owns 180,672 shares of the semiconductor manufacturer’s stock worth $31,166,000 after acquiring an additional 162,366 shares during the period. Renaissance Investment Group LLC boosted its stake in shares of Broadcom by 851.2% during the 3rd quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock worth $20,867,000 after acquiring an additional 108,251 shares in the last quarter. Finally, MRA Advisory Group grew its position in shares of Broadcom by 954.1% during the 3rd quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock valued at $1,631,000 after acquiring an additional 8,558 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Charlie B. Kawwas sold 15,950 shares of the company’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 transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 $69,596,812.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVGO. Benchmark reaffirmed a “buy” rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Oppenheimer reduced their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. 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 research note on Tuesday, October 8th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two research 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 company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Trading Down 3.3 %

Shares of AVGO stock opened at $173.51 on Thursday. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The stock has a market cap of $807.67 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 2.99 and a beta of 1.17. The company’s 50-day moving average price is $167.93 and its 200-day moving average price is $154.14. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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 business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. As a group, equities analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.22%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

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.