Donaldson Capital Management LLC Acquires 618,039 Shares of Broadcom Inc. (NASDAQ:AVGO)

Donaldson Capital Management LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 909.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 686,007 shares of the semiconductor manufacturer’s stock after acquiring an additional 618,039 shares during the quarter. Broadcom makes up 4.5% of Donaldson Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Donaldson Capital Management LLC’s holdings in Broadcom were worth $118,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SYM FINANCIAL Corp boosted its stake in shares of Broadcom by 6.0% during the first quarter. SYM FINANCIAL Corp now owns 390 shares of the semiconductor manufacturer’s stock valued at $517,000 after acquiring an additional 22 shares during the last quarter. Concord Investment Counsel Inc. purchased a new position in Broadcom in the 1st quarter valued at about $297,000. CFO4Life Group LLC boosted its stake in shares of Broadcom by 5.2% during the 1st quarter. CFO4Life Group LLC now owns 1,225 shares of the semiconductor manufacturer’s stock worth $1,624,000 after purchasing an additional 61 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Broadcom by 3.7% during the first quarter. Empirical Finance LLC now owns 14,728 shares of the semiconductor manufacturer’s stock worth $19,521,000 after buying an additional 528 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Broadcom by 2.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,695 shares of the semiconductor manufacturer’s stock valued at $23,453,000 after buying an additional 460 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $179.55 on Thursday. The firm has a market capitalization of $838.60 billion, a PE ratio of 156.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a one year low of $87.62 and a one year high of $186.42. The stock’s 50 day moving average price is $169.80 and its 200 day moving average price is $156.94. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business 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 business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred 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 owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. William Blair began coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer reduced their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. The Goldman Sachs Group lifted 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, Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Two equities research 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 an average rating of “Moderate Buy” and an average target price of $192.79.

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.