Stonebrook Private Inc. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Stonebrook Private Inc. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 839.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 43,458 shares of the semiconductor manufacturer’s stock after buying an additional 38,830 shares during the period. Broadcom comprises 2.0% of Stonebrook Private Inc.’s portfolio, making the stock its 11th biggest holding. Stonebrook Private Inc.’s holdings in Broadcom were worth $7,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Cedar Wealth Management LLC grew its position in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 216 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Broadcom during the 3rd quarter valued at $42,000. Finally, Highline Wealth Partners LLC bought a new stake in Broadcom during the 3rd quarter valued at approximately $45,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’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 completion of 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 position. 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 quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 0.2 %

Broadcom stock opened at $164.23 on Monday. The business has a 50-day simple moving average of $173.70 and a two-hundred day simple moving average of $160.62. Broadcom Inc. has a 52-week low of $90.31 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 $767.05 billion, a P/E ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.35%.

Analysts Set New Price Targets

AVGO has been the subject of several research reports. Mizuho increased 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, October 14th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.