Hanseatic Management Services Inc. Purchases 420 Shares of Broadcom Inc. (NASDAQ:AVGO)

Hanseatic Management Services Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 1,400.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450 shares of the semiconductor manufacturer’s stock after acquiring an additional 420 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Broadcom were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AVGO. WNY Asset Management LLC increased its stake in Broadcom by 5.4% in the first quarter. WNY Asset Management LLC now owns 315 shares of the semiconductor manufacturer’s stock valued at $417,000 after acquiring an additional 16 shares during the last quarter. Choate Investment Advisors increased its stake in Broadcom by 1.6% in the first quarter. Choate Investment Advisors now owns 2,360 shares of the semiconductor manufacturer’s stock valued at $3,128,000 after acquiring an additional 37 shares during the last quarter. NorthRock Partners LLC increased its stake in Broadcom by 24.5% in the first quarter. NorthRock Partners LLC now owns 3,150 shares of the semiconductor manufacturer’s stock valued at $4,175,000 after acquiring an additional 620 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Broadcom by 36.3% in the first quarter. Meeder Asset Management Inc. now owns 23,003 shares of the semiconductor manufacturer’s stock valued at $30,488,000 after acquiring an additional 6,132 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in Broadcom by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 6,376 shares of the semiconductor manufacturer’s stock valued at $8,451,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $183.64 on Friday. The company has a 50-day simple moving average of $170.75 and a two-hundred day simple moving average of $157.78. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The firm has a market capitalization of $857.71 billion, a PE ratio of 159.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.17. 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 released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (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 firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the business earned $0.95 earnings per share. The business’s revenue was up 47.3% on a year-over-year basis. On average, analysts anticipate 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 issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Insider Activity

In other news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’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 transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Oppenheimer reduced their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.