Seelaus Asset Management LLC Acquires 1,185 Shares of Broadcom Inc. (NASDAQ:AVGO)

Seelaus Asset Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 911.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,315 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,185 shares during the period. Seelaus Asset Management LLC’s holdings in Broadcom were worth $227,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AVGO. Castleview Partners LLC increased its position in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the period. Tsfg LLC boosted its position in 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 last quarter. Krane Funds Advisors LLC acquired a new stake in Broadcom during the 3rd quarter worth about $42,000. Highline Wealth Partners LLC bought a new position in shares of Broadcom in the 3rd quarter worth about $45,000. Finally, AlphaCentric Advisors LLC lifted its stake in shares of Broadcom by 859.3% in the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer’s stock valued at $45,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $165.67 on Tuesday. The firm has a 50 day moving average of $173.34 and a 200-day moving average of $159.57. 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 firm has a market capitalization of $773.77 billion, a P/E ratio of 143.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last released its quarterly 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 net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.19%.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Morgan Stanley raised their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at $70,744,366. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 in the last 90 days. Corporate 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.