DE Burlo Group Inc. Buys 37,495 Shares of Broadcom Inc. (NASDAQ:AVGO)

DE Burlo Group Inc. increased its position in Broadcom Inc. (NASDAQ:AVGO) by 868.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,810 shares of the semiconductor manufacturer’s stock after purchasing an additional 37,495 shares during the quarter. DE Burlo Group Inc.’s holdings in Broadcom were worth $7,212,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Gamco Investors INC. ET AL increased its stake in shares of Broadcom by 80.5% during the first quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock valued at $1,189,000 after buying an additional 400 shares during the period. Earnest Partners LLC increased its position in Broadcom by 11.8% during the 1st quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer’s stock valued at $276,000 after purchasing an additional 22 shares during the period. Caxton Associates LP raised its holdings in shares of Broadcom by 5,434.5% in the 1st quarter. Caxton Associates LP now owns 47,486 shares of the semiconductor manufacturer’s stock valued at $62,938,000 after purchasing an additional 46,628 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Broadcom by 214.1% in the 1st quarter. Captrust Financial Advisors now owns 499,556 shares of the semiconductor manufacturer’s stock valued at $662,117,000 after purchasing an additional 340,504 shares in the last quarter. Finally, Waverly Advisors LLC boosted its stake in shares of Broadcom by 194.0% during the first quarter. Waverly Advisors LLC now owns 3,587 shares of the semiconductor manufacturer’s stock valued at $4,754,000 after purchasing an additional 2,367 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Benchmark reissued a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Mizuho boosted their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report 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 issued a strong buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their position. 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 ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $164.23 on Friday. The firm has a 50 day moving average of $173.70 and a two-hundred day moving average of $160.62. The firm has a market capitalization of $767.05 billion, a PE ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom’s dividend payout ratio is presently 184.35%.

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.