Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Sunpointe LLC

Sunpointe LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 879.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,916 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,210 shares during the period. Broadcom accounts for 1.0% of Sunpointe LLC’s investment portfolio, making the stock its 21st largest holding. Sunpointe LLC’s holdings in Broadcom were worth $1,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC raised its holdings in shares of Broadcom by 872.2% in the third quarter. SeaCrest Wealth Management LLC now owns 84,415 shares of the semiconductor manufacturer’s stock valued at $14,562,000 after buying an additional 75,732 shares during the last quarter. Proquility Private Wealth Partners LLC increased its position in Broadcom by 884.6% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 22,085 shares of the semiconductor manufacturer’s stock valued at $3,810,000 after acquiring an additional 19,842 shares during the period. Safeguard Financial LLC raised its stake in Broadcom by 1,213.5% during the 3rd quarter. Safeguard Financial LLC now owns 2,916 shares of the semiconductor manufacturer’s stock valued at $503,000 after acquiring an additional 2,694 shares during the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the period. Finally, Tanglewood Legacy Advisors LLC grew its stake in shares of Broadcom by 900.0% in the 3rd quarter. Tanglewood Legacy Advisors LLC now owns 900 shares of the semiconductor manufacturer’s stock valued at $155,000 after purchasing an additional 810 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’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 transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 0.5 %

Shares of AVGO opened at $176.82 on Thursday. Broadcom Inc. has a 1-year low of $81.83 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 firm has a 50 day simple moving average of $165.17 and a 200-day simple moving average of $152.58. The stock has a market cap of $823.08 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping 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 company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday. Rosenblatt Securities cut their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Finally, The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.54.

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.