Del Sette Capital Management LLC Buys 1,440 Shares of Broadcom Inc. (NASDAQ:AVGO)

Del Sette Capital Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,600 shares of the semiconductor manufacturer’s stock after buying an additional 1,440 shares during the quarter. Del Sette Capital Management LLC’s holdings in Broadcom were worth $276,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. TBH Global Asset Management LLC raised its position in shares of Broadcom by 8.0% during the first quarter. TBH Global Asset Management LLC now owns 692 shares of the semiconductor manufacturer’s stock worth $917,000 after purchasing an additional 51 shares during the period. TTP Investments Inc. raised its position in shares of Broadcom by 13.2% during the first quarter. TTP Investments Inc. now owns 3,079 shares of the semiconductor manufacturer’s stock worth $4,109,000 after purchasing an additional 359 shares during the period. JBR Co Financial Management Inc acquired a new position in shares of Broadcom during the first quarter worth approximately $227,000. Kingsview Wealth Management LLC raised its position in shares of Broadcom by 4.2% during the first quarter. Kingsview Wealth Management LLC now owns 8,425 shares of the semiconductor manufacturer’s stock worth $11,167,000 after purchasing an additional 338 shares during the period. Finally, HBK Sorce Advisory LLC raised its position in shares of Broadcom by 1.8% during the first quarter. HBK Sorce Advisory LLC now owns 2,676 shares of the semiconductor manufacturer’s stock worth $3,546,000 after purchasing an additional 47 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 1.5 %

AVGO stock opened at $176.22 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $823.05 billion, a price-to-earnings ratio of 153.10, a PEG ratio of 2.16 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The stock has a fifty day moving average of $171.08 and a 200-day moving average of $158.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current 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 paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.20%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This represents 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 valued at $53,540,590 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AVGO shares. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley increased their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Two equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

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.