Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 894.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,751,279 shares of the semiconductor manufacturer’s stock after buying an additional 1,575,182 shares during the quarter. Broadcom comprises about 0.8% of Janney Montgomery Scott LLC’s portfolio, making the stock its 16th biggest holding. Janney Montgomery Scott LLC’s holdings in Broadcom were worth $302,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Swedbank AB lifted its holdings in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Raymond James & Associates lifted its stake in Broadcom by 855.4% during the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after purchasing an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Broadcom by 226,130.5% during the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after buying an additional 8,242,455 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of Broadcom by 156,028.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock valued at $1,256,657,000 after buying an additional 7,280,304 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Broadcom by 833.3% in the 3rd quarter. New York State Common Retirement Fund now owns 5,793,400 shares of the semiconductor manufacturer’s stock valued at $999,362,000 after buying an additional 5,172,633 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the company 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 research note on Tuesday, July 23rd. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Rosenblatt Securities cut their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s 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 sale, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 3.2 %

NASDAQ:AVGO opened at $173.90 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $87.12 and a 52-week high of $186.42. The stock’s 50 day moving average price is $169.37 and its 200 day moving average price is $156.58. The company has a market capitalization of $812.21 billion, a PE ratio of 151.09, a P/E/G ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for 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 company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. On average, research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is an increase 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 dividend yield of 1.22%. Broadcom’s dividend payout ratio is 184.19%.

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.