Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 948.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,792 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,858 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Broadcom were worth $1,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. FMR LLC lifted its position in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after acquiring an additional 30,674,902 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Broadcom by 962.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock worth $5,519,591,000 after purchasing an additional 28,985,434 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $178.94 on Tuesday. The firm has a 50 day moving average of $173.14 and a two-hundred day moving average of $163.05. Broadcom Inc. has a 12 month low of $95.61 and a 12 month high of $186.42. The company has a market capitalization of $835.75 billion, a price-to-earnings ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. UBS Group boosted their price target on shares of 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. Finally, William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $195.96.

Insider Buying and Selling

In other news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate 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.