Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 850.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,378 shares of the semiconductor manufacturer’s stock after buying an additional 1,233 shares during the period. Birchcreek Wealth Management LLC’s holdings in Broadcom were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in Broadcom by 916.3% during the third quarter. Empowered Funds LLC now owns 185,724 shares of the semiconductor manufacturer’s stock worth $32,037,000 after acquiring an additional 167,450 shares during the period. Empirical Finance LLC increased its stake in shares of Broadcom by 924.0% during the third quarter. Empirical Finance LLC now owns 142,792 shares of the semiconductor manufacturer’s stock worth $24,632,000 after purchasing an additional 128,847 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Broadcom by 821.0% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 78,646 shares of the semiconductor manufacturer’s stock worth $13,566,000 after purchasing an additional 70,107 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its stake in Broadcom by 880.3% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 373,602 shares of the semiconductor manufacturer’s stock valued at $64,446,000 after buying an additional 335,490 shares in the last quarter. Finally, Connable Office Inc. boosted its holdings in Broadcom by 1,471.4% in the 3rd quarter. Connable Office Inc. now owns 18,731 shares of the semiconductor manufacturer’s stock worth $3,231,000 after buying an additional 17,539 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Up 0.5 %

Broadcom stock opened at $165.67 on Tuesday. The company has a market capitalization of $773.77 billion, a PE ratio of 143.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm has a 50 day moving average price of $173.34 and a 200 day moving average price of $159.57.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating 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 analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 184.19%.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald boosted their price target 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. Finally, Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.79.

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.