American Institute for Advanced Investment Management LLP Acquires 2,520 Shares of Broadcom Inc. (NASDAQ:AVGO)

American Institute for Advanced Investment Management LLP lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,800 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,520 shares during the quarter. American Institute for Advanced Investment Management LLP’s holdings in Broadcom were worth $483,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Castleview Partners LLC increased its holdings in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN grew its holdings in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Broadcom in the 1st quarter valued at approximately $36,000. Finally, Tsfg LLC lifted its stake in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AVGO. UBS Group decreased their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley raised their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated 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 sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 1.0 %

Shares of Broadcom stock opened at $173.00 on Friday. 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 firm has a 50-day moving average of $168.18 and a 200-day moving average of $154.68. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The stock has a market cap of $805.29 billion, a PE ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 47.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.23%. Broadcom’s payout ratio is currently 9.12%.

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.