Palouse Capital Management Inc. Acquires 629 Shares of Broadcom Inc. (NASDAQ:AVGO)

Palouse Capital Management Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 885.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 700 shares of the semiconductor manufacturer’s stock after acquiring an additional 629 shares during the period. Palouse Capital Management Inc.’s holdings in Broadcom were worth $121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Carolina Wealth Advisors LLC grew its stake in Broadcom by 372.5% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 32,263 shares of the semiconductor manufacturer’s stock valued at $5,565,000 after buying an additional 25,435 shares during the last quarter. Northwest Investment Counselors LLC grew its position in shares of Broadcom by 897.3% in the third quarter. Northwest Investment Counselors LLC now owns 1,825 shares of the semiconductor manufacturer’s stock valued at $315,000 after purchasing an additional 1,642 shares during the last quarter. Retirement Guys Formula LLC grew its position in shares of Broadcom by 957.4% in the third quarter. Retirement Guys Formula LLC now owns 8,956 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 8,109 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its holdings in Broadcom by 902.7% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 674,368 shares of the semiconductor manufacturer’s stock worth $115,989,000 after purchasing an additional 607,115 shares during the last quarter. Finally, Little House Capital LLC lifted its holdings in Broadcom by 988.5% during the 3rd quarter. Little House Capital LLC now owns 39,174 shares of the semiconductor manufacturer’s stock worth $6,758,000 after purchasing an additional 35,575 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $179.38 on Wednesday. The company’s 50 day moving average price is $167.61 and its two-hundred day moving average price is $153.88. The firm has a market capitalization of $834.99 billion, a P/E ratio of 7.72, a P/E/G ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. 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 data 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 the consensus estimate of $12.98 billion. During the same quarter last year, the business posted $0.95 EPS. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, 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. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 9.12%.

Analysts Set New Price Targets

Several research firms have weighed in on AVGO. UBS Group lowered their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Oppenheimer decreased their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $191.54.

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.