Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 884.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,790 shares of the semiconductor manufacturer’s stock after buying an additional 313,360 shares during the quarter. Broadcom comprises 2.9% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 5th biggest holding. Chesley Taft & Associates LLC’s holdings in Broadcom were worth $60,166,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. lifted its holdings in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC purchased a new position in Broadcom in the 1st quarter valued at approximately $29,000. Delta Asset Management LLC TN increased its stake in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Broadcom in the 1st quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $43,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other news, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,452 shares of company stock valued at $56,396,638 over the last three months. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 0.9 %

Shares of AVGO opened at $175.08 on Tuesday. The stock’s 50-day moving average is $159.64 and its two-hundred day moving average is $149.81. The stock has a market cap of $814.98 billion, a PE ratio of 7.53, a P/E/G ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $185.16. 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 (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was up 47.3% compared to the same quarter last year. Equities analysts forecast 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. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.21%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Sanford C. Bernstein raised their price objective on Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Wells Fargo & Company raised their price objective on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. The Goldman Sachs Group raised their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of Broadcom in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued 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 a consensus target price of $189.23.

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.