Lansing Street Advisors Purchases 1,383 Shares of Broadcom Inc. (NASDAQ:AVGO)

Lansing Street Advisors lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 953.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,528 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,383 shares during the quarter. Lansing Street Advisors’ holdings in Broadcom were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Harbour Investment Management LLC raised its stake in shares of Broadcom by 871.4% in the third quarter. Harbour Investment Management LLC now owns 28,840 shares of the semiconductor manufacturer’s stock worth $4,975,000 after buying an additional 25,871 shares during the period. Private Wealth Management Group LLC raised its stake in shares of Broadcom by 901.7% in the third quarter. Private Wealth Management Group LLC now owns 1,162 shares of the semiconductor manufacturer’s stock worth $200,000 after buying an additional 1,046 shares during the period. Fernwood Investment Management LLC raised its stake in shares of Broadcom by 954.4% in the third quarter. Fernwood Investment Management LLC now owns 2,035 shares of the semiconductor manufacturer’s stock worth $351,000 after buying an additional 1,842 shares during the period. TrueWealth Advisors LLC raised its stake in shares of Broadcom by 804.1% in the third quarter. TrueWealth Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $343,000 after buying an additional 1,769 shares during the period. Finally, First National Bank Sioux Falls raised its stake in shares of Broadcom by 900.0% in the third quarter. First National Bank Sioux Falls now owns 2,520 shares of the semiconductor manufacturer’s stock worth $435,000 after buying an additional 2,268 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 3.2 %

Shares of NASDAQ AVGO opened at $179.55 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $169.80 and a two-hundred day simple moving average of $156.94. The firm has a market cap of $838.60 billion, a PE ratio of 156.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a twelve month low of $87.62 and a twelve month high of $186.42.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. Broadcom’s payout ratio is currently 184.35%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of Broadcom 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was 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 accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on AVGO shares. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. 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. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price 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.