Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Raelipskie Partnership

Raelipskie Partnership increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 953.2% in the third quarter, HoldingsChannel.com reports. The firm owned 10,100 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,141 shares during the quarter. Broadcom comprises 0.8% of Raelipskie Partnership’s holdings, making the stock its 29th largest position. Raelipskie Partnership’s holdings in Broadcom were worth $1,742,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVGO. D.B. Root & Company LLC boosted its holdings in shares of Broadcom by 58.0% in the second quarter. D.B. Root & Company LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $398,000 after acquiring an additional 91 shares in the last quarter. NCP Inc. boosted its stake in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after acquiring an additional 400 shares in the last quarter. Ameliora Wealth Management Ltd. grew its holdings in shares of Broadcom by 183.4% in the 2nd quarter. Ameliora Wealth Management Ltd. now owns 2,627 shares of the semiconductor manufacturer’s stock worth $4,218,000 after acquiring an additional 1,700 shares during the period. Bank Pictet & Cie Asia Ltd. increased its stake in Broadcom by 27.3% in the 2nd quarter. Bank Pictet & Cie Asia Ltd. now owns 610 shares of the semiconductor manufacturer’s stock valued at $979,000 after purchasing an additional 131 shares in the last quarter. Finally, Maia Wealth LLC purchased a new stake in Broadcom during the second quarter worth $2,420,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

AVGO opened at $179.53 on Monday. The company has a 50 day moving average of $173.01 and a two-hundred day moving average of $162.79. Broadcom Inc. has a 52-week low of $90.36 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. The company has a market cap of $838.51 billion, a P/E ratio of 155.98, a P/E/G ratio of 2.11 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm 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%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. On average, analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Benchmark reiterated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Mizuho increased their target price on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group upped their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $195.96.

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.