Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Inlet Private Wealth LLC

Inlet Private Wealth LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 807.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,882 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,344 shares during the quarter. Inlet Private Wealth LLC’s holdings in Broadcom were worth $842,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC increased its position in shares of Broadcom by 919.9% during the third quarter. Global Retirement Partners LLC now owns 81,356 shares of the semiconductor manufacturer’s stock worth $14,034,000 after purchasing an additional 73,379 shares in the last quarter. Mitchell & Pahl Private Wealth LLC grew its stake in Broadcom by 894.3% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 27,096 shares of the semiconductor manufacturer’s stock valued at $4,674,000 after acquiring an additional 24,371 shares in the last quarter. Quad Cities Investment Group LLC grew its position in shares of Broadcom by 901.0% in the third quarter. Quad Cities Investment Group LLC now owns 7,838 shares of the semiconductor manufacturer’s stock valued at $1,352,000 after purchasing an additional 7,055 shares in the last quarter. Patton Fund Management Inc. lifted its position in Broadcom by 835.0% during the third quarter. Patton Fund Management Inc. now owns 32,238 shares of the semiconductor manufacturer’s stock worth $5,561,000 after buying an additional 28,790 shares in the last quarter. Finally, Good Life Advisors LLC boosted its stake in Broadcom by 2,349.1% during the third quarter. Good Life Advisors LLC now owns 31,618 shares of the semiconductor manufacturer’s stock worth $5,455,000 after buying an additional 30,327 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVGO. Morgan Stanley increased their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. JPMorgan Chase & Co. upped 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. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 753,280 shares of the company’s stock, 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 is accessible through this hyperlink. In other news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s 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 of the company’s stock, valued at approximately $126,754,425.60. This represents 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 valued at $53,540,590 over the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 0.9 %

Shares of NASDAQ:AVGO opened at $179.89 on Friday. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company has a market capitalization of $837.37 billion, a PE ratio of 7.74, a P/E/G ratio of 2.99 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. The firm has a 50 day simple moving average of $166.52 and a 200-day simple moving average of $153.25.

Broadcom (NASDAQ:AVGO) last released its quarterly 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 return on equity of 30.12% and a net margin of 10.88%. The firm 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. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 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.