Meeder Asset Management Inc. Buys 1,264 Shares of Broadcom Inc. (NASDAQ:AVGO)

Meeder Asset Management Inc. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,252 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,264 shares during the quarter. Meeder Asset Management Inc.’s holdings in Broadcom were worth $2,113,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Castleview Partners LLC grew its holdings in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% in the 3rd 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 bought a new stake in shares of Broadcom in the 3rd quarter valued at $42,000. Highline Wealth Partners LLC acquired a new stake in Broadcom during the 3rd quarter worth $45,000. Finally, AlphaCentric Advisors LLC lifted its holdings in Broadcom by 859.3% during the third quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer’s stock worth $45,000 after acquiring an additional 232 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the business’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. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 4.83 % 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 worth $53,540,590. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on AVGO. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Mizuho increased their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Truist Financial boosted 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. Finally, William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Two 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Trading Up 0.4 %

Shares of NASDAQ:AVGO opened at $163.89 on Friday. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. 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 company has a market capitalization of $765.45 billion, a P/E ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a 50-day simple moving average of $173.77 and a 200 day simple moving average of $160.37.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the company posted $0.95 EPS. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom’s dividend payout ratio is presently 184.19%.

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.