Broadcom Inc. (NASDAQ:AVGO) Shares Bought by WoodTrust Financial Corp

WoodTrust Financial Corp grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 917.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,790 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,614 shares during the period. WoodTrust Financial Corp’s holdings in Broadcom were worth $309,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Castleview Partners LLC raised its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the period. Delta Asset Management LLC TN raised its holdings in Broadcom by 242.9% in 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 raised its holdings in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the period. Krane Funds Advisors LLC purchased a new position in Broadcom in the third quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC purchased a new position in Broadcom in the third quarter valued at approximately $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research reports. Morgan Stanley raised their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Mizuho increased their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Truist Financial increased their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

AVGO stock opened at $183.64 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a market capitalization of $857.71 billion, a price-to-earnings ratio of 159.55, a PEG ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The stock’s fifty day moving average is $170.75 and its two-hundred day moving average is $157.78.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period last year, the business posted $0.95 earnings per share. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.15%. Broadcom’s payout ratio is 184.19%.

About Broadcom

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.