3Chopt Investment Partners LLC Buys 25,385 Shares of Broadcom Inc. (NASDAQ:AVGO)

3Chopt Investment Partners LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 891.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,233 shares of the semiconductor manufacturer’s stock after purchasing an additional 25,385 shares during the quarter. Broadcom comprises about 1.7% of 3Chopt Investment Partners LLC’s investment portfolio, making the stock its 10th biggest position. 3Chopt Investment Partners LLC’s holdings in Broadcom were worth $4,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. Disciplined Growth Investors Inc. MN lifted its stake in shares of Broadcom by 1,249.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,916 shares of the semiconductor manufacturer’s stock worth $331,000 after acquiring an additional 1,774 shares in the last quarter. Frisch Financial Group Inc. grew its position in shares of Broadcom by 993.2% during the 3rd quarter. Frisch Financial Group Inc. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after buying an additional 1,599 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in Broadcom by 948.4% in the third quarter. Prestige Wealth Management Group LLC now owns 9,792 shares of the semiconductor manufacturer’s stock valued at $1,689,000 after acquiring an additional 8,858 shares during the period. Brophy Wealth Management LLC acquired a new position in shares of Broadcom during the third quarter worth approximately $2,282,000. Finally, Vestcor Inc increased its position in Broadcom by 804.1% in the 3rd quarter. Vestcor Inc now owns 183,566 shares of the semiconductor manufacturer’s stock valued at $31,665,000 after acquiring an additional 163,263 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

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 0.3 %

Shares of NASDAQ AVGO opened at $178.94 on Tuesday. The business has a 50 day simple moving average of $173.14 and a 200 day simple moving average of $163.05. Broadcom Inc. has a 52 week low of $95.61 and a 52 week high of $186.42. The stock has a market cap of $835.75 billion, a price-to-earnings ratio of 155.60, a PEG ratio of 2.11 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Truist Financial boosted their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $195.96.

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.