Harbor Investment Advisory LLC Purchases 22,349 Shares of Broadcom Inc. (NASDAQ:AVGO)

Harbor Investment Advisory LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 915.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,790 shares of the semiconductor manufacturer’s stock after purchasing an additional 22,349 shares during the period. Harbor Investment Advisory LLC’s holdings in Broadcom were worth $4,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. J. W. Coons Advisors LLC increased its position in shares of Broadcom by 5.1% during the 4th quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock valued at $1,574,000 after purchasing an additional 69 shares during the last quarter. Gabelli Funds LLC increased its position in Broadcom by 25.9% in the fourth quarter. Gabelli Funds LLC now owns 5,107 shares of the semiconductor manufacturer’s stock worth $5,701,000 after buying an additional 1,049 shares during the last quarter. Exencial Wealth Advisors LLC raised its stake in shares of Broadcom by 6.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 1,594 shares of the semiconductor manufacturer’s stock valued at $1,779,000 after buying an additional 97 shares during the period. Morningstar Investment Services LLC lifted its position in shares of Broadcom by 151.0% during the 4th quarter. Morningstar Investment Services LLC now owns 2,824 shares of the semiconductor manufacturer’s stock valued at $3,170,000 after buying an additional 1,699 shares during the last quarter. Finally, Waterloo Capital L.P. grew its stake in shares of Broadcom by 197.8% during the 4th quarter. Waterloo Capital L.P. now owns 5,482 shares of the semiconductor manufacturer’s stock worth $6,120,000 after acquiring an additional 3,641 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents 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 this link. In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,452 shares of company stock valued at $52,950,238. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 2.8 %

Shares of Broadcom stock traded up $4.75 during trading on Friday, reaching $176.64. 17,941,387 shares of the stock were exchanged, compared to its average volume of 31,198,639. Broadcom Inc. has a 1 year low of $81.17 and a 1 year high of $185.16. The firm has a market cap of $822.24 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. 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’s fifty day moving average is $159.64 and its 200 day moving average is $149.81.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.20%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. Barclays lifted their price objective on shares of Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Mizuho lifted their target price on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a report on Thursday, June 13th. UBS Group lowered their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Benchmark reaffirmed a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

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.