Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by River Street Advisors LLC

River Street Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 951.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,228 shares of the semiconductor manufacturer’s stock after buying an additional 16,495 shares during the quarter. Broadcom accounts for 1.7% of River Street Advisors LLC’s holdings, making the stock its 15th largest holding. River Street Advisors LLC’s holdings in Broadcom were worth $3,144,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. InterOcean Capital Group LLC boosted its holdings in Broadcom by 8.4% in the first quarter. InterOcean Capital Group LLC now owns 2,822 shares of the semiconductor manufacturer’s stock valued at $3,740,000 after purchasing an additional 219 shares during the period. Ossiam boosted its holdings in Broadcom by 763.2% in the first quarter. Ossiam now owns 74,430 shares of the semiconductor manufacturer’s stock valued at $98,650,000 after purchasing an additional 65,807 shares during the period. MQS Management LLC purchased a new position in Broadcom in the first quarter valued at $478,000. Crewe Advisors LLC purchased a new position in Broadcom in the first quarter valued at $1,088,000. Finally, Payden & Rygel Investment Group purchased a new position in Broadcom in the first quarter valued at $23,208,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley lifted their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Two equities 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, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Stock Performance

NASDAQ AVGO opened at $165.67 on Tuesday. 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 business’s 50 day moving average is $173.34 and its two-hundred day moving average is $159.57. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The stock has a market capitalization of $773.77 billion, a price-to-earnings ratio of 143.94, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (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 for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced 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. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.28%. Broadcom’s payout ratio is presently 184.19%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’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 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company’s stock.

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.