MWA Asset Management increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 863.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,028 shares of the semiconductor manufacturer's stock after buying an additional 27,809 shares during the period. Broadcom comprises about 3.6% of MWA Asset Management's portfolio, making the stock its 2nd biggest position. MWA Asset Management's holdings in Broadcom were worth $5,352,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Tsfg LLC increased its stake in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in Broadcom during the third quarter worth approximately $42,000. Highline Wealth Partners LLC purchased a new stake in shares of Broadcom during the 3rd quarter worth approximately $45,000. Finally, AlphaCentric Advisors LLC boosted its holdings in shares of Broadcom by 859.3% in the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock valued at $45,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.
A number of brokerages recently weighed in on AVGO. The Goldman Sachs Group boosted their price target 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. Truist Financial lifted their price target on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Rosenblatt Securities dropped their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Finally, Cantor Fitzgerald raised their price target on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Two equities research 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, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $192.79.
Check Out Our Latest Stock Analysis on Broadcom
In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. 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 over the last quarter. 2.00% of the stock is owned by corporate insiders.
NASDAQ:AVGO opened at $164.23 on Friday. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a market capitalization of $767.05 billion, a P/E ratio of 142.68, a price-to-earnings-growth ratio of 1.94 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. The firm has a 50-day moving average price of $173.70 and a two-hundred day moving average price of $160.62.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 the consensus estimate of $12.98 billion. During the same period in the prior year, the firm posted $0.95 EPS. The business's revenue for the quarter was up 47.3% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom's dividend payout ratio (DPR) is 184.19%.
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.
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