Linscomb Wealth Inc. Has $28.73 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Linscomb Wealth Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 859.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 166,547 shares of the semiconductor manufacturer’s stock after purchasing an additional 149,183 shares during the quarter. Broadcom comprises approximately 1.4% of Linscomb Wealth Inc.’s portfolio, making the stock its 13th biggest holding. Linscomb Wealth Inc.’s holdings in Broadcom were worth $28,729,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Castleview Partners LLC boosted its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the period. Tsfg LLC raised its stake in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Broadcom in the 3rd quarter valued at about $42,000. Highline Wealth Partners LLC acquired a new position in shares of Broadcom during the 3rd quarter worth approximately $45,000. Finally, AlphaCentric Advisors LLC increased its holdings in shares of Broadcom by 859.3% during the third quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer’s stock worth $45,000 after purchasing an additional 232 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the business’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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Broadcom stock opened at $165.67 on Tuesday. The business has a 50 day moving average of $173.34 and a 200-day moving average of $159.57. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The company has a market capitalization of $773.77 billion, a P/E ratio of 143.94, a P/E/G ratio of 1.94 and a beta of 1.17.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.19%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Mizuho increased their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

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.