MidWestOne Financial Group Inc. Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

MidWestOne Financial Group Inc. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 942.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,396 shares of the semiconductor manufacturer’s stock after purchasing an additional 26,577 shares during the period. Broadcom accounts for approximately 0.7% of MidWestOne Financial Group Inc.’s holdings, making the stock its 19th biggest position. MidWestOne Financial Group Inc.’s holdings in Broadcom were worth $5,071,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Castleview Partners LLC boosted its stake in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Tsfg LLC increased its position in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Cedar Wealth Management LLC raised its stake in Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares in the last quarter. Finally, Krane Funds Advisors LLC bought a new position in Broadcom during the third quarter valued at $42,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $195.96.

Broadcom Stock Performance

AVGO stock opened at $178.94 on Tuesday. Broadcom Inc. has a one year low of $95.61 and a one year high of $186.42. The firm has a market cap of $835.75 billion, a price-to-earnings ratio of 155.60, a PEG ratio of 2.11 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a 50-day simple moving average of $173.14 and a two-hundred day simple moving average of $163.05.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last 90 days. Insiders own 2.00% of the company’s stock.

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.