Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Aureus Asset Management LLC

Aureus Asset Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 897.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 222,001 shares of the semiconductor manufacturer’s stock after purchasing an additional 199,749 shares during the quarter. Broadcom accounts for 2.5% of Aureus Asset Management LLC’s investment portfolio, making the stock its 11th biggest holding. Aureus Asset Management LLC’s holdings in Broadcom were worth $38,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lion Street Advisors LLC grew its position in Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after purchasing an additional 6 shares in the last quarter. Optimum Investment Advisors boosted its holdings in Broadcom by 0.6% in the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock worth $2,262,000 after buying an additional 8 shares during the period. Anderson Hoagland & Co. lifted its stake in Broadcom by 0.3% in the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock worth $4,623,000 after purchasing an additional 9 shares in the last quarter. Wealth Group Ltd lifted its stake in Broadcom by 6.0% in the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock worth $283,000 after purchasing an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of Broadcom by 1.4% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.5 %

NASDAQ AVGO opened at $162.08 on Monday. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The business’s fifty day simple moving average is $173.39 and its 200-day simple moving average is $161.69. The firm has a market cap of $757.01 billion, a PE ratio of 140.94, a P/E/G ratio of 1.91 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. As a group, equities analysts anticipate 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. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.31%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is 184.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AVGO shares. Morgan Stanley lifted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.96.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % 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 three months. 2.00% of the stock is owned by corporate insiders.

About Broadcom

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.