Glass Jacobson Investment Advisors llc Has $620,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Glass Jacobson Investment Advisors llc raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 904.5% during the third quarter, HoldingsChannel.com reports. The fund owned 3,596 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,238 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Broadcom were worth $620,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raab & Moskowitz Asset Management LLC increased its stake in shares of Broadcom by 1,045.7% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 13,244 shares of the semiconductor manufacturer’s stock valued at $2,285,000 after buying an additional 12,088 shares during the period. MML Investors Services LLC increased its holdings in Broadcom by 945.3% in the third quarter. MML Investors Services LLC now owns 453,009 shares of the semiconductor manufacturer’s stock worth $78,144,000 after purchasing an additional 409,672 shares in the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Broadcom by 4,440.1% during the third quarter. Hodges Capital Management Inc. now owns 25,470 shares of the semiconductor manufacturer’s stock valued at $4,394,000 after purchasing an additional 24,909 shares during the period. First National Bank of Omaha boosted its position in shares of Broadcom by 900.0% during the 3rd quarter. First National Bank of Omaha now owns 2,680 shares of the semiconductor manufacturer’s stock worth $462,000 after purchasing an additional 2,412 shares in the last quarter. Finally, Montchanin Asset Management LLC bought a new position in shares of Broadcom during the 3rd quarter worth about $1,484,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 5.3 %

Shares of NASDAQ:AVGO opened at $179.53 on Monday. Broadcom Inc. has a 1 year low of $90.36 and a 1 year high of $186.42. The company has a market capitalization of $838.51 billion, a PE ratio of 155.98, a price-to-earnings-growth ratio of 2.01 and a beta of 1.13. The business has a fifty day moving average price of $173.01 and a two-hundred day moving average price of $162.79. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

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

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. UBS Group upped their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $195.96.

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.