Mraz Amerine & Associates Inc. Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mraz Amerine & Associates Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 930.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,400 shares of the semiconductor manufacturer’s stock after buying an additional 3,070 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Broadcom were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Schmidt P J Investment Management Inc. grew its position in shares of Broadcom by 887.7% in the third quarter. Schmidt P J Investment Management Inc. now owns 116,329 shares of the semiconductor manufacturer’s stock valued at $20,067,000 after purchasing an additional 104,551 shares during the period. Nicholson Wealth Management Group LLC acquired a new stake in shares of Broadcom in the third quarter valued at about $333,000. Mount Yale Investment Advisors LLC grew its position in shares of Broadcom by 1,554.9% in the third quarter. Mount Yale Investment Advisors LLC now owns 38,874 shares of the semiconductor manufacturer’s stock valued at $6,706,000 after purchasing an additional 36,525 shares during the period. Legacy Capital Group California Inc. grew its position in shares of Broadcom by 887.0% in the third quarter. Legacy Capital Group California Inc. now owns 4,017 shares of the semiconductor manufacturer’s stock valued at $693,000 after purchasing an additional 3,610 shares during the period. Finally, Tectonic Advisors LLC grew its position in shares of Broadcom by 961.9% in the third quarter. Tectonic Advisors LLC now owns 50,897 shares of the semiconductor manufacturer’s stock valued at $8,780,000 after purchasing an additional 46,104 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $173.00 on Monday. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. 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 50 day moving average price of $168.18 and a 200 day moving average price of $154.68. The stock has a market capitalization of $805.29 billion, a P/E ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 9.12%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Morgan Stanley boosted their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Truist Financial boosted their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

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.