Lane & Associates LLC Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

Lane & Associates LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,331 shares of the semiconductor manufacturer’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Lion Street Advisors LLC boosted its holdings in shares of Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after purchasing an additional 6 shares in the last quarter. Optimum Investment Advisors boosted its stake in Broadcom by 0.6% in the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after buying an additional 8 shares in the last quarter. Anderson Hoagland & Co. grew its position in Broadcom by 0.3% in the second quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock valued at $4,623,000 after acquiring an additional 9 shares during the last quarter. Wealth Group Ltd raised its stake in Broadcom by 6.0% during the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock worth $283,000 after acquiring an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its stake in shares of Broadcom by 1.4% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AVGO shares. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. UBS Group raised their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $164.82 on Tuesday. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The stock’s 50 day moving average is $173.72 and its 200-day moving average is $160.86. 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 firm has a market capitalization of $769.80 billion, a price-to-earnings ratio of 143.20, a PEG ratio of 1.93 and a beta of 1.17.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 184.19%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 completion of the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.