Portfolio Design Labs LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Portfolio Design Labs LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 825.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,784 shares of the semiconductor manufacturer’s stock after buying an additional 28,350 shares during the quarter. Broadcom accounts for about 1.5% of Portfolio Design Labs LLC’s investment portfolio, making the stock its 11th largest holding. Portfolio Design Labs LLC’s holdings in Broadcom were worth $5,483,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its stake in Broadcom by 80.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock worth $1,189,000 after purchasing an additional 400 shares during the period. Bamco Inc. NY grew its holdings in shares of Broadcom by 13,754.9% in the first quarter. Bamco Inc. NY now owns 23,969 shares of the semiconductor manufacturer’s stock worth $31,769,000 after purchasing an additional 23,796 shares during the last quarter. Mount Yale Investment Advisors LLC increased its stake in shares of Broadcom by 1.8% in the first quarter. Mount Yale Investment Advisors LLC now owns 2,372 shares of the semiconductor manufacturer’s stock worth $3,144,000 after buying an additional 42 shares during the period. Earnest Partners LLC raised its holdings in Broadcom by 11.8% during the 1st quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer’s stock valued at $276,000 after buying an additional 22 shares during the last quarter. Finally, Caxton Associates LP grew its holdings in Broadcom by 5,434.5% in the 1st quarter. Caxton Associates LP now owns 47,486 shares of the semiconductor manufacturer’s stock worth $62,938,000 after acquiring an additional 46,628 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $164.23 on Friday. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The business’s fifty day simple moving average is $173.70 and its two-hundred day simple moving average is $160.62. 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 $767.05 billion, a price-to-earnings ratio of 142.68, a P/E/G ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. Research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business 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 is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. Broadcom’s dividend payout ratio is 184.19%.

Analyst Ratings Changes

AVGO has been the subject of several recent analyst reports. Mizuho upped their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley increased their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were 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 directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

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.