Hobbs Group Advisors LLC Buys 624 Shares of Broadcom Inc. (NASDAQ:AVGO)

Hobbs Group Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 1,327.7% during the 3rd quarter, Holdings Channel reports. The firm owned 671 shares of the semiconductor manufacturer’s stock after buying an additional 624 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Broadcom were worth $116,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AVGO. Richardson Financial Services Inc. raised its holdings in Broadcom by 2.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after acquiring an additional 59 shares during the period. Tennessee Valley Asset Management Partners increased its stake 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 period. Winthrop Advisory Group LLC lifted its holdings in Broadcom by 25.7% during the 2nd quarter. Winthrop Advisory Group LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 66 shares during the last quarter. Delta Investment Management LLC boosted its stake in Broadcom by 14.9% in the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after purchasing an additional 66 shares during the period. Finally, Raab & Moskowitz Asset Management LLC grew its holdings in Broadcom by 6.2% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $198.09.

Broadcom Trading Down 4.0 %

Shares of Broadcom stock opened at $171.81 on Wednesday. The firm’s 50 day moving average is $173.14 and its 200 day moving average is $163.05. The firm has a market capitalization of $802.45 billion, a PE ratio of 149.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. Broadcom Inc. has a 1 year low of $95.61 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.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents 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 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.