Harbor Advisory Corp MA Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Harbor Advisory Corp MA grew its position in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,370 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,133 shares during the period. Harbor Advisory Corp MA’s holdings in Broadcom were worth $409,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Broadcom by 3.0% in the first 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 raised its holdings in shares of Broadcom by 858.7% in the third 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 lifted its stake 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 worth $2,186,292,000 after acquiring an additional 11,347,563 shares during the last quarter. Jennison Associates LLC boosted its holdings in 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 acquiring an additional 1,263,957 shares during the period. Finally, Legal & General Group Plc grew its position 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 acquiring an additional 83,846 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 3.3 %

Shares of AVGO stock opened at $173.51 on Thursday. The stock’s fifty day moving average price is $167.93 and its 200 day moving average price is $154.14. 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 1-year low of $81.83 and a 1-year high of $186.42. The company has a market cap of $807.67 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AVGO shares. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Oppenheimer dropped their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. The Goldman Sachs Group boosted their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report 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. Finally, Morgan Stanley upped 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Activity at Broadcom

In other Broadcom 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 transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the 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 sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. 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 ninety days. Company 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.