Commonwealth Equity Services LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Commonwealth Equity Services LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 863.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,189,430 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,065,932 shares during the period. Commonwealth Equity Services LLC’s holdings in Broadcom were worth $205,177,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. raised its position in Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC bought a new position in shares of Broadcom during the first quarter valued at approximately $29,000. Delta Asset Management LLC TN grew its stake 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 valued at $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Broadcom in the first quarter worth approximately $36,000. Finally, St. Johns Investment Management Company LLC lifted its stake in shares of Broadcom by 4,000.0% during the 1st quarter. St. Johns Investment Management Company LLC now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after acquiring an additional 40 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, 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 value of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. 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. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.9 %

Shares of AVGO opened at $179.89 on Monday. The firm has a market cap of $837.37 billion, a P/E ratio of 7.74, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The stock’s 50 day moving average is $166.52 and its two-hundred day moving average is $153.25. 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 issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company 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 firm’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. Analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. 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. UBS Group reduced their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Morgan Stanley boosted 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. Mizuho upped their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

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.