Resources Management Corp CT ADV Purchases 67,864 Shares of Broadcom Inc. (NASDAQ:AVGO)

Resources Management Corp CT ADV boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 926.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 75,188 shares of the semiconductor manufacturer’s stock after acquiring an additional 67,864 shares during the quarter. Broadcom makes up approximately 1.7% of Resources Management Corp CT ADV’s holdings, making the stock its 13th biggest holding. Resources Management Corp CT ADV’s holdings in Broadcom were worth $12,970,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Truist Financial raised their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities decreased their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $195.96.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The stock was 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 owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, 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. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $178.94 on Tuesday. The firm has a market capitalization of $835.75 billion, a P/E 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 current ratio of 1.04 and a quick ratio of 0.94. The business has a fifty day moving average of $173.14 and a 200 day moving average of $163.05. Broadcom Inc. has a one year low of $95.61 and a one year high of $186.42.

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.