Diversified Trust Co Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Diversified Trust Co grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,034.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 172,695 shares of the semiconductor manufacturer’s stock after acquiring an additional 157,478 shares during the quarter. Broadcom accounts for approximately 0.8% of Diversified Trust Co’s holdings, making the stock its 21st biggest holding. Diversified Trust Co’s holdings in Broadcom were worth $29,790,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Ehrlich Financial Group lifted its stake in Broadcom by 946.0% in the third quarter. Ehrlich Financial Group now owns 2,343 shares of the semiconductor manufacturer’s stock worth $404,000 after purchasing an additional 2,119 shares during the last quarter. Azzad Asset Management Inc. ADV increased its stake in Broadcom by 806.0% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 36,774 shares of the semiconductor manufacturer’s stock worth $6,344,000 after purchasing an additional 32,715 shares during the period. WealthBridge Capital Management LLC lifted its position in Broadcom by 986.0% in the third quarter. WealthBridge Capital Management LLC now owns 3,801 shares of the semiconductor manufacturer’s stock valued at $656,000 after purchasing an additional 3,451 shares during the last quarter. GAMMA Investing LLC lifted its position in Broadcom by 1,136.4% in the third quarter. GAMMA Investing LLC now owns 85,610 shares of the semiconductor manufacturer’s stock valued at $14,768,000 after purchasing an additional 78,686 shares during the last quarter. Finally, Red Spruce Capital LLC boosted its holdings in shares of Broadcom by 854.9% during the third quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock worth $5,678,000 after purchasing an additional 29,468 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $1.09 during midday trading on Monday, hitting $177.73. The company had a trading volume of 5,278,556 shares, compared to its average volume of 31,061,363. The business’s 50-day simple moving average is $159.64 and its 200-day simple moving average is $149.81. The stock has a market cap of $827.31 billion, a price-to-earnings ratio of 7.63, 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 twelve month low of $81.83 and a twelve month high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm 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. 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 a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 9.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AVGO shares. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Mizuho lifted their price target on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a report on Thursday, June 13th. UBS Group dropped their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Piper Sandler upped their target price on Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Finally, Sanford C. Bernstein raised their target price on Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Two research 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. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the sale, the chief executive officer now owns 1,171,910 shares of the company’s stock, valued at approximately $195,873,037.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Hock E. Tan sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the completion of the transaction, the chief executive officer now owns 1,171,910 shares in the company, valued at approximately $195,873,037.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated 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 directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 243,452 shares of company stock worth $52,950,238 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

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.