Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Courier Capital LLC

Courier Capital LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 889.4% during the 3rd quarter, Holdings Channel reports. The fund owned 6,728 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,048 shares during the quarter. Courier Capital LLC’s holdings in Broadcom were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. 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 valued at $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Swedbank AB increased 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 valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Raymond James & Associates increased its position in shares of Broadcom by 855.4% during 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 period. Jennison Associates LLC increased its position in shares of Broadcom by 43.9% during 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 purchasing an additional 1,263,957 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Broadcom by 2.2% during 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 currently owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO opened at $173.00 on Friday. The stock has a market cap of $805.29 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. 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 stock has a fifty day moving average price of $168.03 and a 200 day moving average price of $154.41.

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 analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during 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 last year, the firm earned $0.95 earnings per share. Analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Benchmark reiterated a “buy” rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the firm’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 transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value 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 $217,594,136.70. 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 worth $53,540,590 over the last three months. 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.