Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 817.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,360 shares of the semiconductor manufacturer’s stock after buying an additional 35,070 shares during the period. Applied Finance Capital Management LLC’s holdings in Broadcom were worth $6,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Lion Street Advisors LLC lifted its stake in Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after buying an additional 6 shares during the period. Hudson Value Partners LLC boosted its stake in Broadcom by 2.7% during the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer’s stock worth $408,000 after acquiring an additional 8 shares in the last quarter. Renasant Bank grew its holdings in Broadcom by 1.0% in the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer’s stock worth $1,040,000 after purchasing an additional 8 shares during the period. Optimum Investment Advisors raised its holdings in shares of Broadcom by 0.6% during the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after purchasing an additional 8 shares during the period. Finally, Anderson Hoagland & Co. boosted its position in shares of Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock worth $4,623,000 after purchasing an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 2.6 %

Shares of NASDAQ AVGO opened at $178.91 on Tuesday. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $835.61 billion, a price-to-earnings ratio of 155.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.17. The firm has a 50-day moving average price of $170.75 and a 200 day moving average price of $157.78.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the business posted $0.95 EPS. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed 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 yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVGO. Oppenheimer dropped their price target 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. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Transactions at Broadcom

In related news, 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 value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction 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 directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. 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 valued at $53,540,590. 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.