JDM Financial Group LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

JDM Financial Group LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,323.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185 shares of the semiconductor manufacturer’s stock after purchasing an additional 172 shares during the quarter. JDM Financial Group LLC’s holdings in Broadcom were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Richardson Financial Services Inc. lifted its position in shares of Broadcom by 2.4% during the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after purchasing an additional 59 shares during the last quarter. Petredis Investment Advisors LLC lifted its position in shares of Broadcom by 1.1% during the second quarter. Petredis Investment Advisors LLC now owns 5,758 shares of the semiconductor manufacturer’s stock worth $9,245,000 after purchasing an additional 62 shares during the last quarter. Tennessee Valley Asset Management Partners lifted its position in shares of Broadcom by 5.2% during the second quarter. Tennessee Valley Asset Management Partners now owns 1,288 shares of the semiconductor manufacturer’s stock worth $2,068,000 after purchasing an additional 64 shares during the last quarter. Winthrop Advisory Group LLC raised its holdings in shares of Broadcom by 25.7% in the second quarter. Winthrop Advisory Group LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 66 shares in the last quarter. Finally, Delta Investment Management LLC raised its holdings in shares of Broadcom by 14.9% in the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after acquiring an additional 66 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 over the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $178.94 on Tuesday. The business’s 50 day moving average price is $173.14 and its 200 day moving average price is $163.05. The firm has a market cap of $835.75 billion, a P/E ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13. Broadcom Inc. has a 52 week low of $95.61 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.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. 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. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Company 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.