McIlrath & Eck LLC Buys 357 Shares of Broadcom Inc. (NASDAQ:AVGO)

McIlrath & Eck LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 793.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402 shares of the semiconductor manufacturer’s stock after buying an additional 357 shares during the quarter. McIlrath & Eck LLC’s holdings in Broadcom were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. NCP Inc. grew its stake in Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after buying an additional 400 shares during the last quarter. Galvin Gaustad & Stein LLC bought a new stake in Broadcom during the 2nd quarter worth approximately $213,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Broadcom by 931.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 22,000 shares of the semiconductor manufacturer’s stock valued at $35,322,000 after purchasing an additional 19,867 shares in the last quarter. Fiduciary Financial Group LLC bought a new position in Broadcom in the 2nd quarter valued at $2,922,000. Finally, Silver Lake Advisory LLC acquired a new position in Broadcom in the second quarter worth $865,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, 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 transaction 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. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 in the company, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Mizuho boosted their target price 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. Morgan Stanley increased their price target 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. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.09.

Broadcom Stock Performance

AVGO stock opened at $183.20 on Thursday. Broadcom Inc. has a 1-year low of $102.46 and a 1-year high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market cap of $855.65 billion, a PE ratio of 159.30, a P/E/G ratio of 2.11 and a beta of 1.13. The business’s 50-day moving average price is $173.22 and its two-hundred day moving average price is $163.27.

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.