Broadcom Inc. (NASDAQ:AVGO) Stock Position Lifted by Atria Investments Inc

Atria Investments Inc boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 896.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 297,114 shares of the semiconductor manufacturer’s stock after buying an additional 267,302 shares during the quarter. Broadcom makes up about 0.6% of Atria Investments Inc’s holdings, making the stock its 20th biggest position. Atria Investments Inc’s holdings in Broadcom were worth $51,252,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Essex Savings Bank grew its position in Broadcom by 906.5% in the third quarter. Essex Savings Bank now owns 25,715 shares of the semiconductor manufacturer’s stock worth $4,436,000 after acquiring an additional 23,160 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Broadcom by 2,242.1% during the 3rd quarter. First Personal Financial Services now owns 890 shares of the semiconductor manufacturer’s stock worth $154,000 after acquiring an additional 852 shares in the last quarter. Field & Main Bank increased its holdings in shares of Broadcom by 884.0% during the 3rd quarter. Field & Main Bank now owns 38,750 shares of the semiconductor manufacturer’s stock valued at $6,684,000 after acquiring an additional 34,812 shares during the last quarter. Tillman Hartley LLC raised its stake in shares of Broadcom by 903.4% in the 3rd quarter. Tillman Hartley LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $303,000 after acquiring an additional 1,581 shares in the last quarter. Finally, Oxbow Advisors LLC lifted its holdings in Broadcom by 599.2% in the 3rd quarter. Oxbow Advisors LLC now owns 10,718 shares of the semiconductor manufacturer’s stock worth $1,849,000 after purchasing an additional 9,185 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents 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 the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. 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 company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Truist Financial lifted their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities dropped their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Down 1.5 %

Shares of NASDAQ AVGO opened at $176.22 on Wednesday. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The company has a market cap of $823.05 billion, a price-to-earnings ratio of 153.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm’s 50-day simple moving average is $171.08 and its 200 day simple moving average is $158.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business posted $0.95 earnings per share. Broadcom’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 issued a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.20%. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Broadcom Company 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.