Truxt Investmentos Ltda. Buys 8,126 Shares of Broadcom Inc. (NASDAQ:AVGO)

Truxt Investmentos Ltda. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 233.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,600 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,126 shares during the quarter. Broadcom accounts for about 1.3% of Truxt Investmentos Ltda.’s holdings, making the stock its 13th biggest position. Truxt Investmentos Ltda.’s holdings in Broadcom were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Brighton Jones LLC lifted its holdings in shares of Broadcom by 11.8% in the 1st quarter. Brighton Jones LLC now owns 2,347 shares of the semiconductor manufacturer’s stock worth $3,111,000 after acquiring an additional 247 shares during the last quarter. Forum Financial Management LP increased its stake in shares of Broadcom by 0.8% during the first quarter. Forum Financial Management LP now owns 3,046 shares of the semiconductor manufacturer’s stock valued at $4,037,000 after purchasing an additional 24 shares in the last quarter. GM Advisory Group LLC lifted its holdings in shares of Broadcom by 7.2% during the first quarter. GM Advisory Group LLC now owns 4,068 shares of the semiconductor manufacturer’s stock valued at $5,392,000 after purchasing an additional 273 shares during the last quarter. Wintrust Investments LLC boosted its holdings in Broadcom by 2.4% in the first quarter. Wintrust Investments LLC now owns 6,467 shares of the semiconductor manufacturer’s stock worth $8,571,000 after acquiring an additional 154 shares in the last quarter. Finally, Banco Santander S.A. boosted its stake in Broadcom by 10.8% in the 1st quarter. Banco Santander S.A. now owns 23,278 shares of the semiconductor manufacturer’s stock worth $30,853,000 after purchasing an additional 2,278 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. The Goldman Sachs Group boosted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $173.58 on Thursday. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $171.55 and its 200 day moving average price is $158.53. The company has a market capitalization of $810.72 billion, a PE ratio of 150.81, a price-to-earnings-growth ratio of 2.07 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. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. On average, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a boost 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 currently 184.19%.

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.