TCW Group Inc. Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

TCW Group Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 837.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 966,045 shares of the semiconductor manufacturer’s stock after purchasing an additional 862,957 shares during the period. Broadcom comprises about 1.5% of TCW Group Inc.’s investment portfolio, making the stock its 13th largest position. TCW Group Inc.’s holdings in Broadcom were worth $166,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. NCP Inc. increased its position in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Broadcom by 1,197.8% during the second quarter. ORG Partners LLC now owns 597 shares of the semiconductor manufacturer’s stock valued at $978,000 after acquiring an additional 551 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Broadcom by 20.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 692 shares of the semiconductor manufacturer’s stock worth $1,110,000 after purchasing an additional 118 shares during the last quarter. Leavell Investment Management Inc. boosted its stake in Broadcom by 14.7% in the 2nd quarter. Leavell Investment Management Inc. now owns 1,580 shares of the semiconductor manufacturer’s stock worth $2,537,000 after purchasing an additional 202 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position in Broadcom by 310.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 275 shares of the semiconductor manufacturer’s stock valued at $442,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on AVGO shares. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Finally, Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Three 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.09.

Insider Buying and Selling

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

Broadcom Trading Down 4.0 %

Shares of Broadcom stock opened at $171.81 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a fifty day moving average of $173.14 and a 200 day moving average of $163.05. The company has a market capitalization of $802.45 billion, a P/E ratio of 149.40, a P/E/G ratio of 2.11 and a beta of 1.13. Broadcom Inc. has a fifty-two week low of $95.61 and a fifty-two week high of $186.42.

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.