Crestmont Private Wealth LLC Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

Crestmont Private Wealth LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 911.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,639 shares of the semiconductor manufacturer’s stock after buying an additional 2,378 shares during the quarter. Crestmont Private Wealth LLC’s holdings in Broadcom were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. Legend Financial Advisors Inc. increased its position in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC bought a new stake in Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN boosted its stake in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Broadcom during the first quarter worth about $36,000. Finally, Creekmur Asset Management LLC bought a new stake in Broadcom during the fourth quarter worth about $43,000. 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 company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 295,130 shares of company stock worth $50,646,622. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $181.48 on Monday. The firm has a fifty day moving average price of $162.91 and a 200-day moving average price of $151.64. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market cap of $844.77 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.17%. Broadcom’s dividend payout ratio is currently 9.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVGO shares. Bank of America reissued a “buy” rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Finally, Cantor Fitzgerald upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $190.29.

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.