Hunter Associates Investment Management LLC Has $9.99 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Hunter Associates Investment Management LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 898.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 57,857 shares of the semiconductor manufacturer’s stock after buying an additional 52,063 shares during the quarter. Broadcom comprises about 1.5% of Hunter Associates Investment Management LLC’s portfolio, making the stock its 13th largest holding. Hunter Associates Investment Management LLC’s holdings in Broadcom were worth $9,988,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Lion Street Advisors LLC raised its position in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after buying an additional 6 shares in the last quarter. Ascent Wealth Partners LLC raised its position in shares of Broadcom by 0.3% in the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after buying an additional 8 shares in the last quarter. O Dell Group LLC raised its position in shares of Broadcom by 2.3% in the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock valued at $472,000 after buying an additional 8 shares in the last quarter. Hudson Value Partners LLC raised its position in shares of Broadcom by 2.7% in the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer’s stock valued at $408,000 after buying an additional 8 shares in the last quarter. Finally, Renasant Bank raised its position in shares of Broadcom by 1.0% in the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer’s stock valued at $1,040,000 after buying an additional 8 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AVGO shares. Oppenheimer dropped their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group boosted their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Stock Down 3.9 %

Shares of NASDAQ AVGO opened at $169.77 on Friday. The company has a market capitalization of $790.26 billion, a P/E ratio of 147.63, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 52-week low of $83.26 and a 52-week high of $186.42. 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’s 50 day moving average price is $168.89 and its 200-day moving average price is $155.80.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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. The firm had revenue of $13.07 billion for 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 company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 EPS. Equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current 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 represents a $2.12 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 184.35%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’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 sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % 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 in the last quarter. Company insiders own 2.00% of the company’s stock.

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.