Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 1,129.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,087 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,348 shares during the period. Nicolet Advisory Services LLC’s holdings in Broadcom were worth $1,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Leelyn Smith LLC boosted its holdings in shares of Broadcom by 875.6% in the third quarter. Leelyn Smith LLC now owns 13,151 shares of the semiconductor manufacturer’s stock valued at $2,269,000 after acquiring an additional 11,803 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its stake in Broadcom by 900.0% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,500 shares of the semiconductor manufacturer’s stock worth $1,466,000 after purchasing an additional 7,650 shares during the period. Stonebrook Private Inc. grew its position in Broadcom by 839.0% during the 3rd quarter. Stonebrook Private Inc. now owns 43,458 shares of the semiconductor manufacturer’s stock worth $7,496,000 after purchasing an additional 38,830 shares during the last quarter. Financial Council LLC increased its stake in Broadcom by 900.0% in the third quarter. Financial Council LLC now owns 1,860 shares of the semiconductor manufacturer’s stock valued at $321,000 after purchasing an additional 1,674 shares during the period. Finally, Nwam LLC raised its holdings in shares of Broadcom by 1,933.5% in the third quarter. Nwam LLC now owns 91,326 shares of the semiconductor manufacturer’s stock valued at $15,754,000 after buying an additional 86,835 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The trade was a 11.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last three months. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Cantor Fitzgerald boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Truist Financial raised their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Stock Up 0.4 %

Shares of NASDAQ AVGO opened at $164.82 on Tuesday. The stock has a fifty day moving average price of $173.72 and a 200 day moving average price of $160.86. 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 12-month low of $90.31 and a 12-month high of $186.42. The company has a market cap of $769.80 billion, a P/E ratio of 143.20, a P/E/G ratio of 1.93 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 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. Research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 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.