RAM Investment Partners LLC Purchases 4,680 Shares of Broadcom Inc. (NASDAQ:AVGO)

RAM Investment Partners LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 2,000.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,914 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,680 shares during the period. RAM Investment Partners LLC’s holdings in Broadcom were worth $848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AVGO. Kathmere Capital Management LLC raised its stake in shares of Broadcom by 23.8% in the first quarter. Kathmere Capital Management LLC now owns 604 shares of the semiconductor manufacturer’s stock valued at $801,000 after buying an additional 116 shares during the period. Occidental Asset Management LLC raised its stake in shares of Broadcom by 32.2% in the first quarter. Occidental Asset Management LLC now owns 263 shares of the semiconductor manufacturer’s stock valued at $349,000 after buying an additional 64 shares during the period. Hodges Capital Management Inc. raised its stake in shares of Broadcom by 27.1% in the first quarter. Hodges Capital Management Inc. now owns 516 shares of the semiconductor manufacturer’s stock valued at $684,000 after buying an additional 110 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Broadcom by 7.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,689 shares of the semiconductor manufacturer’s stock valued at $7,540,000 after buying an additional 396 shares during the period. Finally, First Bank & Trust bought a new stake in shares of Broadcom in the first quarter valued at $281,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVGO shares. UBS Group decreased their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Oppenheimer decreased their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. 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. In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. 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 worth $53,540,590 in the last ninety days. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ 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 P/E/G ratio of 2.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The stock’s 50-day moving average is $168.03 and its 200 day moving average is $154.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the company earned $0.95 EPS. Broadcom’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

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

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.