Rosenbaum Jay D. Has $264,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Rosenbaum Jay D. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 375.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,530 shares of the semiconductor manufacturer’s stock after buying an additional 1,208 shares during the quarter. Broadcom makes up approximately 3.9% of Rosenbaum Jay D.’s portfolio, making the stock its 4th biggest holding. Rosenbaum Jay D.’s holdings in Broadcom were worth $264,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom during the third quarter valued at about $42,000. Highline Wealth Partners LLC bought a new position in Broadcom during the 3rd quarter worth approximately $45,000. Finally, AlphaCentric Advisors LLC boosted its position in Broadcom by 859.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer’s stock valued at $45,000 after buying an additional 232 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. Rosenblatt Securities reduced their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley upped 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. William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 in the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $163.25 on Thursday. The business’s 50 day moving average price is $173.78 and its 200 day moving average price is $160.09. The firm has a market cap of $762.47 billion, a P/E ratio of 141.96, a P/E/G ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued 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 yield of 1.30%. Broadcom’s dividend payout ratio is presently 184.35%.

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.