Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Tree Line Advisors Hong Kong Ltd.

Tree Line Advisors Hong Kong Ltd. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,004.9% in the third quarter, Holdings Channel reports. The institutional investor owned 295,000 shares of the semiconductor manufacturer’s stock after buying an additional 268,300 shares during the quarter. Broadcom accounts for about 11.8% of Tree Line Advisors Hong Kong Ltd.’s portfolio, making the stock its 5th biggest holding. Tree Line Advisors Hong Kong Ltd.’s holdings in Broadcom were worth $50,888,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVGO. Jacobs Levy Equity Management Inc. raised its stake in shares of Broadcom by 166.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer’s stock valued at $3,070,000 after purchasing an additional 1,446 shares in the last quarter. FSA Advisors Inc. acquired a new position in shares of Broadcom in the first quarter valued at $264,000. Cetera Investment Advisers raised its stake in shares of Broadcom by 258.7% in the first quarter. Cetera Investment Advisers now owns 102,941 shares of the semiconductor manufacturer’s stock valued at $136,438,000 after purchasing an additional 74,244 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Broadcom by 95.3% in the first quarter. Cetera Advisors LLC now owns 27,454 shares of the semiconductor manufacturer’s stock valued at $36,387,000 after purchasing an additional 13,398 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its stake in shares of Broadcom by 33.9% in the first quarter. Cetera Advisor Networks LLC now owns 57,900 shares of the semiconductor manufacturer’s stock valued at $76,742,000 after purchasing an additional 14,664 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AVGO. Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. William Blair began coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.96.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s 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 transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 3.1 %

NASDAQ AVGO opened at $159.67 on Thursday. The stock has a market capitalization of $745.75 billion, a price-to-earnings ratio of 138.72, a PEG ratio of 1.94 and a beta of 1.17. The stock’s 50 day moving average price is $173.72 and its two-hundred day moving average price is $161.28. 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 52 week low of $90.31 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm 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 business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 given a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.33%. Broadcom’s payout ratio is 184.19%.

Broadcom 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.