Mutual Advisors LLC Has $10.93 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mutual Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,762 shares of the semiconductor manufacturer’s stock after buying an additional 511 shares during the quarter. Mutual Advisors LLC’s holdings in Broadcom were worth $10,926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Castleview Partners LLC lifted its holdings 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 purchasing an additional 134 shares during the last quarter. Delta Asset Management LLC TN lifted its position in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Broadcom in the third quarter valued at approximately $42,000. Finally, Redmont Wealth Advisors LLC increased its stake in shares of Broadcom by 900.0% during the third quarter. Redmont Wealth Advisors LLC now owns 270 shares of the semiconductor manufacturer’s stock worth $47,000 after purchasing an additional 243 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, CEO Hock E. Tan sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the sale, the chief executive officer now owns 1,171,910 shares of the company’s stock, valued at approximately $195,873,037.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. 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 over the last 90 days. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Oppenheimer lowered their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. The Goldman Sachs Group boosted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Morgan Stanley raised their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. 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’s stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Performance

NASDAQ AVGO opened at $168.92 on Friday. 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 stock has a market cap of $788.95 billion, a PE ratio of 146.76, a PEG ratio of 2.84 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $86.00 and a fifty-two week high of $186.42. The firm’s fifty day moving average price is $168.94 and its two-hundred day moving average price is $156.03.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $0.95 earnings per share. The firm’s revenue was up 47.3% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.19%.

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.