Gordian Capital Singapore Pte Ltd Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Gordian Capital Singapore Pte Ltd boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 100,120.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,011 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,006 shares during the quarter. Gordian Capital Singapore Pte Ltd’s holdings in Broadcom were worth $864,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Kiely Wealth Advisory Group Inc. purchased a new position in Broadcom during the 2nd quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Broadcom during the 2nd quarter worth approximately $136,000. American Capital Advisory LLC acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $169,000. Semus Wealth Partners LLC purchased a new stake in Broadcom in the 2nd quarter valued at approximately $202,000. Finally, Palisades Hudson Asset Management L.P. acquired a new stake in Broadcom during the 2nd quarter valued at $204,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on 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 sale, the insider now owns 737,330 shares in the company, valued at $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. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 5.3 %

NASDAQ AVGO opened at $179.53 on Monday. The firm has a market capitalization of $838.51 billion, a price-to-earnings ratio of 155.98, a PEG ratio of 2.11 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a one year low of $90.36 and a one year high of $186.42. The company’s 50 day moving average price is $173.01 and its 200 day moving average price is $162.79.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Truist Financial upped their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley upped their price objective 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. Finally, Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.96.

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.