Belmont Capital LLC Purchases 10,453 Shares of Broadcom Inc. (NASDAQ:AVGO)

Belmont Capital LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 899.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,615 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,453 shares during the quarter. Broadcom accounts for about 0.3% of Belmont Capital LLC’s holdings, making the stock its 27th biggest position. Belmont Capital LLC’s holdings in Broadcom were worth $2,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lion Street Advisors LLC boosted its stake in shares of Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after purchasing an additional 6 shares in the last quarter. Optimum Investment Advisors boosted its position in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after acquiring an additional 8 shares in the last quarter. Anderson Hoagland & Co. grew its holdings in shares of Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock worth $4,623,000 after acquiring an additional 9 shares during the period. Wealth Group Ltd raised its position in shares of Broadcom by 6.0% in the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock worth $283,000 after acquiring an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its stake in shares of Broadcom by 1.4% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after purchasing an additional 10 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 3.24 % 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 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Cantor Fitzgerald upped their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. The Goldman Sachs Group boosted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Rosenblatt Securities dropped their price target 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. Two investment 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 stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Trading Up 0.4 %

NASDAQ:AVGO opened at $163.89 on Friday. The company has a 50 day simple moving average of $173.77 and a two-hundred day simple moving average of $160.37. The company has a market cap of $765.45 billion, a PE ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. 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 Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the business earned $0.95 EPS. The business’s quarterly revenue was up 47.3% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.19%.

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.