Broadcom Inc (NASDAQ:AVGO) Stake Lifted by Inlet Private Wealth LLC

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Inlet Private Wealth LLC increased its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 77.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,149 shares of the semiconductor manufacturer’s stock after buying an additional 500 shares during the quarter. Inlet Private Wealth LLC’s holdings in Broadcom were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. Capital International Investors grew its stake in Broadcom by 16.5% during the 1st quarter. Capital International Investors now owns 34,403,752 shares of the semiconductor manufacturer’s stock worth $8,157,136,000 after buying an additional 4,864,220 shares during the last quarter. Capital Research Global Investors boosted its position in Broadcom by 8.6% during the 1st quarter. Capital Research Global Investors now owns 29,499,900 shares of the semiconductor manufacturer’s stock worth $6,994,430,000 after acquiring an additional 2,323,946 shares during the period. BlackRock Inc. boosted its position in Broadcom by 2.9% during the 2nd quarter. BlackRock Inc. now owns 26,151,390 shares of the semiconductor manufacturer’s stock worth $8,253,640,000 after acquiring an additional 735,944 shares during the period. Clearbridge Investments LLC boosted its position in Broadcom by 18.4% during the 1st quarter. Clearbridge Investments LLC now owns 4,184,682 shares of the semiconductor manufacturer’s stock worth $992,188,000 after acquiring an additional 651,443 shares during the period. Finally, SG Americas Securities LLC boosted its position in Broadcom by 105.8% during the 2nd quarter. SG Americas Securities LLC now owns 29,686 shares of the semiconductor manufacturer’s stock worth $9,369,000 after acquiring an additional 545,615 shares during the period. Hedge funds and other institutional investors own 81.82% of the company’s stock.

In other news, insider Kirsten M. Spears sold 5,000 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $364.06, for a total transaction of $1,820,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 57,171 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $308.49, for a total value of $17,636,681.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 712,112 shares of company stock worth $246,515,630. 3.30% of the stock is currently owned by insiders.

AVGO has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Broadcom from $365.00 to $420.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Goldman Sachs Group upped their price objective on Broadcom from $322.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, September 4th. BidaskClub upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 2nd. Barclays upped their price objective on Broadcom from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Finally, 140166 upped their price objective on Broadcom from $400.00 to $410.00 in a report on Friday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $382.48.

AVGO stock traded down $1.28 during mid-day trading on Friday, hitting $378.65. The stock had a trading volume of 1,029,702 shares, compared to its average volume of 2,653,615. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 1.83. Broadcom Inc has a 1-year low of $155.67 and a 1-year high of $387.80. The company has a fifty day moving average of $361.89 and a 200 day moving average of $310.85. The stock has a market capitalization of $153.16 billion, a price-to-earnings ratio of 71.04, a PEG ratio of 1.67 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.24 by $0.16. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.76 billion. Broadcom had a return on equity of 32.44% and a net margin of 10.70%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.16 EPS. As a group, sell-side analysts expect that Broadcom Inc will post 18.15 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were issued a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio is 74.67%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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