Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by E&G Advisors LP

E&G Advisors LP lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 916.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,250 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,750 shares during the quarter. Broadcom accounts for about 0.7% of E&G Advisors LP’s investment portfolio, making the stock its 24th largest holding. E&G Advisors LP’s holdings in Broadcom were worth $2,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AVGO. Vanguard Group Inc. increased its position in Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares during the last quarter. Swedbank AB boosted its holdings 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 buying an additional 16,453,718 shares during the period. Raymond James & Associates grew its position in shares of Broadcom by 855.4% in the third 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. Jennison Associates LLC grew its holdings in Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after buying an additional 1,263,957 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Broadcom by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock valued at $6,362,816,000 after purchasing an additional 83,846 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 0.9 %

NASDAQ AVGO opened at $179.89 on Monday. The stock has a market capitalization of $837.37 billion, a P/E ratio of 7.74, a P/E/G ratio of 2.99 and a beta of 1.17. The business has a 50 day simple moving average of $166.52 and a 200 day simple moving average of $153.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last issued 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 net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. Broadcom’s revenue was up 47.3% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is 9.12%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 50,000 shares of the company’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 transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVGO shares. Morgan Stanley lifted their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. UBS Group reduced their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Cantor Fitzgerald raised 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. Finally, Mizuho upped their price objective on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

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.