Del Sette Capital Management LLC Purchases 1,440 Shares of Broadcom Inc. (NASDAQ:AVGO)

Del Sette Capital Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,600 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,440 shares during the quarter. Del Sette Capital Management LLC’s holdings in Broadcom were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AVGO. TBH Global Asset Management LLC raised its stake in Broadcom by 8.0% during the first quarter. TBH Global Asset Management LLC now owns 692 shares of the semiconductor manufacturer’s stock valued at $917,000 after buying an additional 51 shares during the last quarter. TTP Investments Inc. lifted its holdings in Broadcom by 13.2% in the first quarter. TTP Investments Inc. now owns 3,079 shares of the semiconductor manufacturer’s stock valued at $4,109,000 after acquiring an additional 359 shares during the period. JBR Co Financial Management Inc bought a new position in Broadcom in the first quarter valued at about $227,000. Kingsview Wealth Management LLC lifted its holdings in Broadcom by 4.2% in the first quarter. Kingsview Wealth Management LLC now owns 8,425 shares of the semiconductor manufacturer’s stock valued at $11,167,000 after acquiring an additional 338 shares during the period. Finally, HBK Sorce Advisory LLC increased its position in Broadcom by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 2,676 shares of the semiconductor manufacturer’s stock worth $3,546,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was 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 owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was 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 of the company’s stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 1.5 %

Shares of NASDAQ:AVGO opened at $176.22 on Wednesday. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The business’s fifty day simple moving average is $171.08 and its 200-day simple moving average is $158.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $823.05 billion, a PE ratio of 153.10, a P/E/G ratio of 2.16 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.19%.

Analyst Ratings Changes

A number of brokerages have commented on AVGO. William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Rosenblatt Securities lowered their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. 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. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.79.

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.