Trail Ridge Investment Advisors LLC Purchases 5,254 Shares of Broadcom Inc. (NASDAQ:AVGO)

Trail Ridge Investment Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 862.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,863 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,254 shares during the period. Trail Ridge Investment Advisors LLC’s holdings in Broadcom were worth $1,017,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Broadcom by 56.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,823 shares of the semiconductor manufacturer’s stock valued at $14,345,000 after acquiring an additional 3,898 shares in the last quarter. Hardy Reed LLC bought a new position in shares of Broadcom in the 1st quarter valued at about $232,000. Regent Peak Wealth Advisors LLC grew its holdings in shares of Broadcom by 1.0% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 1,256 shares of the semiconductor manufacturer’s stock valued at $1,665,000 after acquiring an additional 12 shares in the last quarter. Pullen Investment Management LLC bought a new position in shares of Broadcom in the 1st quarter valued at about $411,000. Finally, Valley Brook Capital Group Inc. grew its holdings in Broadcom by 5.5% during the first quarter. Valley Brook Capital Group Inc. now owns 1,725 shares of the semiconductor manufacturer’s stock worth $2,286,000 after purchasing an additional 90 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AVGO. JPMorgan Chase & Co. lifted their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. UBS Group reduced their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities reduced their price target on 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $168.92 on Friday. The company’s 50 day simple moving average is $168.94 and its 200 day simple moving average is $156.03. The stock has a market capitalization of $788.95 billion, a price-to-earnings ratio of 146.76, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. Broadcom Inc. has a 1 year low of $86.00 and a 1 year high of $186.42. 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 posted 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 for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 184.19%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. The trade was 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 the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

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.