2,420 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by First Dallas Securities Inc.

First Dallas Securities Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, HoldingsChannel reports. The firm bought 2,420 shares of the semiconductor manufacturer’s stock, valued at approximately $417,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kiely Wealth Advisory Group Inc. purchased a new stake in Broadcom during the 2nd quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Broadcom during the 2nd quarter valued at about $136,000. American Capital Advisory LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at about $169,000. Semus Wealth Partners LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at about $202,000. Finally, Palisades Hudson Asset Management L.P. acquired a new position in shares of Broadcom in the 2nd quarter valued at about $204,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Stock Down 0.3 %

Broadcom stock opened at $178.94 on Tuesday. Broadcom Inc. has a 1-year low of $95.61 and a 1-year high of $186.42. 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 stock has a market cap of $835.75 billion, a PE ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13. The stock’s fifty day moving average is $173.14 and its two-hundred day moving average is $163.05.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last quarter. 2.00% of the stock is currently owned by 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.