Solstein Capital LLC Has $193,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Solstein Capital LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,120 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,008 shares during the period. Solstein Capital LLC’s holdings in Broadcom were worth $193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Citizens National Bank Trust Department grew its holdings in Broadcom by 876.2% in the 3rd quarter. Citizens National Bank Trust Department now owns 87,545 shares of the semiconductor manufacturer’s stock valued at $15,102,000 after buying an additional 78,577 shares during the last quarter. Donaldson Capital Management LLC grew its position in Broadcom by 909.3% in the 3rd quarter. Donaldson Capital Management LLC now owns 686,007 shares of the semiconductor manufacturer’s stock worth $118,336,000 after purchasing an additional 618,039 shares during the last quarter. Kanawha Capital Management LLC raised its position in shares of Broadcom by 972.1% during the third quarter. Kanawha Capital Management LLC now owns 24,497 shares of the semiconductor manufacturer’s stock valued at $4,226,000 after buying an additional 22,212 shares during the last quarter. KG&L Capital Management LLC lifted its stake in shares of Broadcom by 1,074.9% in the third quarter. KG&L Capital Management LLC now owns 11,538 shares of the semiconductor manufacturer’s stock valued at $1,990,000 after buying an additional 10,556 shares during the period. Finally, Forum Financial Management LP increased its stake in Broadcom by 847.6% during the third quarter. Forum Financial Management LP now owns 30,256 shares of the semiconductor manufacturer’s stock valued at $5,219,000 after acquiring an additional 27,063 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Broadcom stock opened at $179.55 on Thursday. The business’s 50-day simple moving average is $169.80 and its 200 day simple moving average is $156.94. 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 stock has a market cap of $838.60 billion, a price-to-earnings ratio of 156.13, a P/E/G ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a 12-month low of $87.62 and a 12-month high of $186.42.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Charlie B. Kawwas sold 15,950 shares of the business’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 transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVGO. Oppenheimer lowered their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Truist Financial lifted their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Rosenblatt Securities decreased their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Finally, The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” 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 company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

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.