Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Hudson Capital Management LLC

Hudson Capital Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 861.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 31,951 shares of the semiconductor manufacturer’s stock after acquiring an additional 28,629 shares during the period. Broadcom accounts for about 1.8% of Hudson Capital Management LLC’s holdings, making the stock its 18th biggest position. Hudson Capital Management LLC’s holdings in Broadcom were worth $5,512,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AVGO. Legend Financial Advisors Inc. grew its stake in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at $29,000. Delta Asset Management LLC TN grew its stake in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at $43,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on AVGO shares. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Piper Sandler upped their price target on shares of Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Sanford C. Bernstein upped their price target on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. UBS Group decreased their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Bank of America reaffirmed a “buy” rating and set a $215.00 price target (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $185.69 on Friday. Broadcom Inc. has a twelve month low of $81.83 and a twelve month 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. The company has a market capitalization of $867.28 billion, a price-to-earnings ratio of 161.33, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The business has a 50 day simple moving average of $162.16 and a 200-day simple moving average of $151.32.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. The business’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is 184.19%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % 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 150,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,230 shares of company stock worth $47,190,190. 2.00% of the stock is currently 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.