Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Williams & Novak LLC

Williams & Novak LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 577.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,750 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,344 shares during the period. Williams & Novak LLC’s holdings in Broadcom were worth $474,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after acquiring an additional 1,263,957 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Broadcom by 2.2% in the second quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after acquiring an additional 83,846 shares during the last quarter. GQG Partners LLC boosted its position in shares of Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after acquiring an additional 983,328 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Broadcom by 826.3% in the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock worth $511,258,000 after acquiring an additional 2,643,845 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America reissued a “buy” rating and issued a $215.00 target price (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Barclays raised their target price on shares of Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Jefferies Financial Group raised their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. 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. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,452 shares of company stock worth $56,396,638 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $175.08 on Tuesday. The firm has a market capitalization of $814.98 billion, a P/E ratio of 7.53, a PEG ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $185.16. The business has a 50-day moving average of $159.64 and a 200-day moving average of $149.81. 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 (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 9.12%.

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.