Broadcom Inc. (NASDAQ:AVGO) Position Increased by IHT Wealth Management LLC

IHT Wealth Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 956.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,274 shares of the semiconductor manufacturer’s stock after buying an additional 64,525 shares during the quarter. IHT Wealth Management LLC’s holdings in Broadcom were worth $12,262,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Ingalls & Snyder LLC boosted its holdings in shares of Broadcom by 931.8% during the third quarter. Ingalls & Snyder LLC now owns 40,642 shares of the semiconductor manufacturer’s stock valued at $7,011,000 after acquiring an additional 36,703 shares during the period. Intrepid Capital Management Inc. grew its position in Broadcom by 1,057.1% in the 3rd quarter. Intrepid Capital Management Inc. now owns 1,782 shares of the semiconductor manufacturer’s stock worth $307,000 after purchasing an additional 1,628 shares during the last quarter. Insight Holdings Group LLC grew its position in Broadcom by 940.0% in the 3rd quarter. Insight Holdings Group LLC now owns 36,400 shares of the semiconductor manufacturer’s stock worth $6,279,000 after purchasing an additional 32,900 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Broadcom by 950.1% during the third quarter. Integrated Wealth Concepts LLC now owns 117,661 shares of the semiconductor manufacturer’s stock valued at $20,297,000 after buying an additional 106,456 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its position in shares of Broadcom by 1,375.6% during the third quarter. Investment Management Corp of Ontario now owns 165,612 shares of the semiconductor manufacturer’s stock worth $28,568,000 after buying an additional 154,389 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % 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 firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at $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 worth $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Rosenblatt Securities reduced 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. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

Broadcom Stock Up 0.6 %

NASDAQ:AVGO traded up $0.95 on Tuesday, hitting $167.46. 2,642,182 shares of the company’s stock traded hands, compared to its average volume of 28,959,877. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $782.14 billion, a PE ratio of 144.67, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. The firm has a 50-day moving average price of $173.39 and a 200-day moving average price of $161.69.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $12.98 billion. During the same period last year, the company earned $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. Equities 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. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend 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 presently 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.