Broadcom Inc. (NASDAQ:AVGO) is Braun Stacey Associates Inc.’s 10th Largest Position

Braun Stacey Associates Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,890 shares of the semiconductor manufacturer’s stock after selling 24,880 shares during the quarter. Broadcom makes up about 1.7% of Braun Stacey Associates Inc.’s holdings, making the stock its 10th biggest position. Braun Stacey Associates Inc.’s holdings in Broadcom were worth $43,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB boosted its position in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Swiss National Bank boosted its position in shares of Broadcom by 907.0% in the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock worth $2,264,223,000 after buying an additional 11,822,467 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after buying an additional 11,453,554 shares in the last quarter. Raymond James & Associates raised its stake in Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after purchasing an additional 11,347,563 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Broadcom by 908.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer’s stock valued at $1,962,029,000 after purchasing an additional 10,245,786 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Down 1.3 %

NASDAQ:AVGO opened at $163.25 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The firm has a market capitalization of $762.47 billion, a price-to-earnings ratio of 141.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The stock has a fifty day simple moving average of $173.78 and a 200 day simple moving average of $160.09.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. Sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current 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. The ex-dividend date was Thursday, September 19th. 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 dividend yield of 1.30%. Broadcom’s payout ratio is 184.35%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. UBS Group increased their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial increased their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by insiders.

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.