Brown Financial Advisors Buys 8,114 Shares of Broadcom Inc. (NASDAQ:AVGO)

Brown Financial Advisors increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 915.8% in the third quarter, Holdings Channel reports. The fund owned 9,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,114 shares during the quarter. Brown Financial Advisors’ holdings in Broadcom were worth $1,552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. grew its holdings in Broadcom by 2.4% during the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after acquiring an additional 59 shares during the period. Petredis Investment Advisors LLC raised its holdings in shares of Broadcom by 1.1% in the second quarter. Petredis Investment Advisors LLC now owns 5,758 shares of the semiconductor manufacturer’s stock worth $9,245,000 after acquiring an additional 62 shares during the last quarter. Tennessee Valley Asset Management Partners boosted 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 last quarter. Winthrop Advisory Group LLC boosted its stake in shares of Broadcom by 25.7% during the second quarter. Winthrop Advisory Group LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 66 shares during the last quarter. Finally, Delta Investment Management LLC increased its position in Broadcom by 14.9% during the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after purchasing an additional 66 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVGO. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Truist Financial upped their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $195.96.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the firm’s 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 transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $178.94 on Tuesday. Broadcom Inc. has a 52 week low of $95.61 and a 52 week high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market cap of $835.75 billion, a price-to-earnings ratio of 155.60, a PEG ratio of 2.11 and a beta of 1.13. The stock has a 50 day moving average of $173.14 and a 200-day moving average of $163.05.

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.