Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Cwm LLC

Cwm LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,056.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 519,912 shares of the semiconductor manufacturer’s stock after purchasing an additional 474,949 shares during the period. Cwm LLC’s holdings in Broadcom were worth $89,685,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. O Connor Financial Group LLC grew its stake in Broadcom by 1,002.4% during the 3rd quarter. O Connor Financial Group LLC now owns 1,378 shares of the semiconductor manufacturer’s stock worth $238,000 after buying an additional 1,253 shares during the last quarter. West Financial Advisors LLC purchased a new stake in Broadcom in the third quarter valued at approximately $60,000. Daymark Wealth Partners LLC boosted its holdings in shares of Broadcom by 914.8% in the third quarter. Daymark Wealth Partners LLC now owns 147,659 shares of the semiconductor manufacturer’s stock valued at $25,471,000 after acquiring an additional 133,109 shares during the period. Saxon Interests Inc. grew its position in shares of Broadcom by 786.7% during the third quarter. Saxon Interests Inc. now owns 13,647 shares of the semiconductor manufacturer’s stock worth $2,354,000 after acquiring an additional 12,108 shares during the last quarter. Finally, Peddock Capital Advisors LLC increased its holdings in shares of Broadcom by 932.3% in the 3rd quarter. Peddock Capital Advisors LLC now owns 12,945 shares of the semiconductor manufacturer’s stock valued at $2,233,000 after acquiring an additional 11,691 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $172.32, for a total transaction of $3,446,400.00. Following the completion of the transaction, the chief executive officer now owns 1,151,910 shares in the company, valued at approximately $198,497,131.20. 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 276,230 shares of company stock valued at $47,190,190. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVGO. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Wells Fargo & Company boosted their price target on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, June 13th. Jefferies Financial Group increased their price objective on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Piper Sandler lifted their target price on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.29.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $185.95 on Thursday. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The firm has a market capitalization of $865.57 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The business’s 50 day simple moving average is $160.88 and its 200-day simple moving average is $150.57. 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 posted its earnings results 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. Broadcom’s revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

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.