Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 848.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 187,835 shares of the semiconductor manufacturer’s stock after buying an additional 168,038 shares during the quarter. Broadcom comprises 5.3% of Arcadia Investment Management Corp MI’s holdings, making the stock its largest holding. Arcadia Investment Management Corp MI’s holdings in Broadcom were worth $32,402,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Castleview Partners LLC lifted its stake in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Delta Asset Management LLC TN lifted its position in 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 period. Tsfg LLC boosted its holdings in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Broadcom in the 3rd quarter worth about $42,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Broadcom in the 3rd quarter worth about $45,000. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AVGO. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. The Goldman Sachs Group raised their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Stock Up 3.2 %

Shares of AVGO stock opened at $173.90 on Wednesday. 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 Inc. has a 12 month low of $87.12 and a 12 month high of $186.42. The stock has a market cap of $812.21 billion, a P/E ratio of 151.09, a P/E/G ratio of 1.99 and a beta of 1.17. The company has a 50 day simple moving average of $169.37 and a two-hundred day simple moving average of $156.58.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 184.19%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred 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 directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom 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.