Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Balboa Wealth Partners

Balboa Wealth Partners lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 744.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,903 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,375 shares during the quarter. Balboa Wealth Partners’ holdings in Broadcom were worth $2,226,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AVGO. Castleview Partners LLC increased its stake in Broadcom by 1,030.8% during the 3rd 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 increased its stake in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares during the period. Tsfg LLC increased its stake in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares during the period. Krane Funds Advisors LLC bought a new stake in Broadcom during the third quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC bought a new position in Broadcom during the 3rd quarter valued at $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other 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 transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 3.3 %

Broadcom stock opened at $164.84 on Monday. Broadcom Inc. has a 12 month low of $90.31 and a 12 month 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 cap of $769.90 billion, a P/E ratio of 143.21, a P/E/G ratio of 1.94 and a beta of 1.17. The company’s fifty day simple moving average is $172.84 and its 200-day simple moving average is $159.35.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.29%. 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 presently 184.19%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVGO. Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Morgan Stanley upped 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. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Mizuho lifted their price target 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. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

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.