Broadcom Inc. (NASDAQ:AVGO) Position Boosted by Pegasus Partners Ltd.

Pegasus Partners Ltd. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,253.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,490 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,306 shares during the period. Pegasus Partners Ltd.’s holdings in Broadcom were worth $430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. AXA S.A. boosted its holdings in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after acquiring an additional 7,608 shares during the period. Catalyst Financial Partners LLC grew its position in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares during the last quarter. Summit Place Financial Advisors LLC boosted its position in shares of Broadcom by 912.6% during the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after buying an additional 8,834 shares during the period. Finally, Signaturefd LLC grew its holdings in Broadcom by 913.0% in the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after buying an additional 71,181 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Rosenblatt Securities dropped their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Truist Financial lifted their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Trading Down 2.6 %

Broadcom stock opened at $178.91 on Tuesday. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The company’s fifty day moving average price is $170.75 and its two-hundred day moving average price is $157.78. The company has a market capitalization of $835.61 billion, a price-to-earnings ratio of 155.44, a PEG ratio of 2.16 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 (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. On average, 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. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

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.