Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Prudent Man Advisors LLC

Prudent Man Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 762.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,755 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,161 shares during the quarter. Broadcom makes up 0.8% of Prudent Man Advisors LLC’s investment portfolio, making the stock its 19th largest position. Prudent Man Advisors LLC’s holdings in Broadcom were worth $2,373,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Swedbank AB increased its position in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after buying an additional 16,453,718 shares during the period. Swiss National Bank increased its holdings in shares of Broadcom by 907.0% in the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock valued at $2,264,223,000 after acquiring an additional 11,822,467 shares during the period. Van ECK Associates Corp increased its holdings in shares of Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after acquiring an additional 11,453,554 shares during the period. Raymond James & Associates boosted its stake in Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after purchasing an additional 11,347,563 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Broadcom by 908.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer’s stock worth $1,962,029,000 after purchasing an additional 10,245,786 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AVGO shares. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two equities research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Trading Down 1.3 %

Broadcom stock opened at $163.25 on Thursday. The stock has a 50-day moving average price of $173.78 and a 200 day moving average price of $160.09. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The stock has a market cap of $762.47 billion, a PE ratio of 141.96, a P/E/G ratio of 1.94 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Equities research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid 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 1.30%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 184.35%.

Broadcom Company 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.