Sheaff Brock Investment Advisors LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 821.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,646 shares of the semiconductor manufacturer's stock after buying an additional 70,107 shares during the quarter. Broadcom comprises 1.2% of Sheaff Brock Investment Advisors LLC's investment portfolio, making the stock its 13th largest holding. Sheaff Brock Investment Advisors LLC's holdings in Broadcom were worth $13,566,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of AVGO. Castleview Partners LLC raised its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Tsfg LLC raised its stake in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new position in Broadcom in the third quarter worth $42,000. Highline Wealth Partners LLC acquired a new stake in Broadcom during the third quarter worth $45,000. Finally, AlphaCentric Advisors LLC increased its holdings in Broadcom by 859.3% in the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock valued at $45,000 after buying an additional 232 shares during the period. 76.43% of the stock is owned by institutional investors.
Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. Mizuho upped their price objective on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $192.79.
Get Our Latest Stock Analysis on Broadcom
In other news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This represents a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.
Shares of AVGO opened at $165.67 on Tuesday. The firm has a market capitalization of $773.77 billion, a price-to-earnings ratio of 143.94, a PEG ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The business's fifty day moving average price is $173.34 and its two-hundred day moving average price is $159.57.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the previous year, the business posted $0.95 EPS. The company's quarterly revenue was up 47.3% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.
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. 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 1.28%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is currently 184.19%.
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.
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