Goodman Advisory Group LLC Buys 9,464 Shares of Broadcom Inc. (NASDAQ:AVGO)

Goodman Advisory Group LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 981.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,428 shares of the semiconductor manufacturer’s stock after buying an additional 9,464 shares during the period. Goodman Advisory Group LLC’s holdings in Broadcom were worth $1,799,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AVGO. NCP Inc. grew its holdings in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after acquiring an additional 400 shares in the last quarter. ORG Partners LLC grew its stake in Broadcom by 1,197.8% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the semiconductor manufacturer’s stock valued at $978,000 after purchasing an additional 551 shares during the period. GPS Wealth Strategies Group LLC increased its position in shares of Broadcom by 2.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,593 shares of the semiconductor manufacturer’s stock valued at $5,768,000 after purchasing an additional 75 shares during the last quarter. Sky Investment Group LLC raised its stake in shares of Broadcom by 48.9% during the 2nd quarter. Sky Investment Group LLC now owns 396 shares of the semiconductor manufacturer’s stock worth $636,000 after purchasing an additional 130 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Broadcom by 48.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,347 shares of the semiconductor manufacturer’s stock worth $42,301,000 after buying an additional 8,652 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. UBS Group raised their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Mizuho upped their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Truist Financial boosted their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on 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 Broadcom stock opened at $178.94 on Tuesday. The business’s 50-day moving average price is $173.14 and its 200-day moving average price is $163.05. The firm has a market capitalization of $835.75 billion, a PE ratio of 155.60, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. Broadcom Inc. has a 12 month low of $95.61 and a 12 month 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.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Insiders own 2.00% of the company’s stock.

About Broadcom

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.