Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Chapin Davis Inc.

Chapin Davis Inc. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 222.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,413 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,640 shares during the quarter. Broadcom accounts for 0.9% of Chapin Davis Inc.’s portfolio, making the stock its 26th largest position. Chapin Davis Inc.’s holdings in Broadcom were worth $2,659,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bangor Savings Bank boosted its stake in Broadcom by 934.7% during the third quarter. Bangor Savings Bank now owns 4,449 shares of the semiconductor manufacturer’s stock valued at $767,000 after buying an additional 4,019 shares in the last quarter. Ignite Planners LLC lifted its holdings in Broadcom by 881.8% in the 3rd quarter. Ignite Planners LLC now owns 14,236 shares of the semiconductor manufacturer’s stock valued at $2,456,000 after acquiring an additional 12,786 shares during the last quarter. Bath Savings Trust Co boosted its position in shares of Broadcom by 893.5% during the 3rd quarter. Bath Savings Trust Co now owns 1,520 shares of the semiconductor manufacturer’s stock valued at $262,000 after purchasing an additional 1,367 shares in the last quarter. Greenfield Savings Bank grew its stake in shares of Broadcom by 1,816.4% in the 3rd quarter. Greenfield Savings Bank now owns 2,798 shares of the semiconductor manufacturer’s stock worth $483,000 after purchasing an additional 2,652 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC raised its holdings in shares of Broadcom by 1,016.8% in the 3rd quarter. Heartwood Wealth Advisors LLC now owns 1,530 shares of the semiconductor manufacturer’s stock worth $264,000 after purchasing an additional 1,393 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Evercore ISI boosted their target price on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. 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 valued at $56,396,638 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 0.9 %

AVGO opened at $175.08 on Tuesday. The company has a market capitalization of $814.98 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $185.16. The business has a 50-day moving average of $159.64 and a 200-day moving average of $149.81.

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, beating the consensus estimate of $1.20 by $0.04. The firm 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 company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced 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 1.21%. 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 is presently 9.12%.

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.