3Chopt Investment Partners LLC Has $4.57 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

3Chopt Investment Partners LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,848 shares of the semiconductor manufacturer’s stock after selling 489 shares during the quarter. Broadcom comprises 1.4% of 3Chopt Investment Partners LLC’s holdings, making the stock its 10th biggest position. 3Chopt Investment Partners LLC’s holdings in Broadcom were worth $4,573,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. raised its stake in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in Broadcom during the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN grew its position in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Broadcom during the 1st quarter worth approximately $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $43,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.1 %

AVGO stock opened at $172.50 on Tuesday. The firm has a market cap of $802.97 billion, a PE ratio of 7.42, a P/E/G ratio of 2.78 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s fifty day moving average is $158.23 and its 200 day moving average is $148.55. Broadcom Inc. has a one year low of $80.89 and a one year high of $185.16.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.23%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVGO shares. The Goldman Sachs Group boosted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Citigroup reissued a “buy” rating and set a $156.00 target price on shares of Broadcom in a research report on Tuesday, June 11th. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Finally, Melius started coverage on shares of Broadcom in a report on Monday, June 3rd. They issued a “buy” rating and a $185.00 price objective on the stock. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. Insiders have sold a total of 233,452 shares of company stock valued at $51,278,838 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.