Broadcom Inc. (NASDAQ:AVGO) Stake Lifted by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 712.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 958,690 shares of the semiconductor manufacturer’s stock after buying an additional 840,686 shares during the quarter. Broadcom comprises about 1.4% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 7th largest position. Teachers Retirement System of The State of Kentucky’s holdings in Broadcom were worth $165,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of AVGO. Richardson Financial Services Inc. raised its position in shares of Broadcom by 2.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after buying an additional 59 shares in the last quarter. Tennessee Valley Asset Management Partners increased its stake in shares of Broadcom by 5.2% during the second quarter. Tennessee Valley Asset Management Partners now owns 1,288 shares of the semiconductor manufacturer’s stock valued at $2,068,000 after acquiring an additional 64 shares during the period. Winthrop Advisory Group LLC raised its holdings in Broadcom by 25.7% during the second quarter. Winthrop Advisory Group LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 66 shares in the last quarter. Delta Investment Management LLC lifted its position in Broadcom by 14.9% in the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after purchasing an additional 66 shares during the period. Finally, Raab & Moskowitz Asset Management LLC increased its position in shares of Broadcom by 6.2% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 4.0 %

Shares of AVGO opened at $171.81 on Wednesday. The stock’s fifty day simple moving average is $173.14 and its 200-day simple moving average is $163.05. The firm has a market capitalization of $802.45 billion, a PE ratio of 149.40, 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 quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated 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. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AVGO. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald upped their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Mizuho upped their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $198.09.

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.