Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Connective Portfolio Management LLC

Connective Portfolio Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,800 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,120 shares during the period. Broadcom accounts for approximately 1.3% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 20th biggest holding. Connective Portfolio Management LLC’s holdings in Broadcom were worth $1,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. raised its holdings in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in Broadcom during the 1st quarter worth about $29,000. Delta Asset Management LLC TN raised its stake in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In related 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 value of $8,168,500.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,452 shares of company stock valued at $56,396,638. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 1.3 %

NASDAQ:AVGO traded down $2.36 during trading hours on Wednesday, hitting $178.37. The company had a trading volume of 2,823,410 shares, compared to its average volume of 30,919,760. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $185.16. The company has a market cap of $830.29 billion, a P/E ratio of 7.77, a P/E/G ratio of 2.78 and a beta of 1.17. The company has a 50-day moving average of $160.88 and a 200 day moving average of $150.57. 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 announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared 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. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AVGO shares. Wells Fargo & Company lifted their target price on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Jefferies Financial Group lifted their price objective on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI upped their price target on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.29.

Broadcom 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.