Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Curbstone Financial Management Corp

Curbstone Financial Management Corp increased its position in Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,440 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,896 shares during the period. Curbstone Financial Management Corp’s holdings in Broadcom were worth $938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. J. W. Coons Advisors LLC lifted its position in Broadcom by 5.1% during the fourth quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $1,574,000 after buying an additional 69 shares during the period. Gabelli Funds LLC boosted its position in shares of Broadcom by 25.9% in the fourth quarter. Gabelli Funds LLC now owns 5,107 shares of the semiconductor manufacturer’s stock worth $5,701,000 after acquiring an additional 1,049 shares during the last quarter. Exencial Wealth Advisors LLC grew its holdings in Broadcom by 6.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 1,594 shares of the semiconductor manufacturer’s stock valued at $1,779,000 after purchasing an additional 97 shares during the period. Morningstar Investment Services LLC grew its holdings in Broadcom by 151.0% in the fourth quarter. Morningstar Investment Services LLC now owns 2,824 shares of the semiconductor manufacturer’s stock valued at $3,170,000 after purchasing an additional 1,699 shares during the period. Finally, Platform Technology Partners acquired a new position in Broadcom during the fourth quarter worth approximately $268,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Barclays upped their target price on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Evercore ISI boosted their price target on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, Bank of America reaffirmed a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Two 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Hock E. Tan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total value of $1,671,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,171,910 shares of the company’s stock, valued at approximately $195,873,037.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. Insiders sold 243,452 shares of company stock valued at $52,950,238 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO opened at $171.89 on Friday. Broadcom Inc. has a 1-year low of $81.17 and a 1-year high of $185.16. The company has a 50-day moving average of $159.14 and a 200-day moving average of $149.44. 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 company has a market capitalization of $800.13 billion, a P/E ratio of 7.39, a PEG ratio of 2.78 and a beta of 1.17.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. Broadcom’s 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.