Patron Partners LLC Has $2.10 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Patron Partners LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 888.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,152 shares of the semiconductor manufacturer’s stock after buying an additional 10,923 shares during the quarter. Broadcom comprises 1.2% of Patron Partners LLC’s portfolio, making the stock its 16th biggest holding. Patron Partners LLC’s holdings in Broadcom were worth $2,096,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lion Street Advisors LLC raised its stake in Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after acquiring an additional 6 shares in the last quarter. Optimum Investment Advisors lifted its holdings in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after purchasing an additional 8 shares during the last quarter. Anderson Hoagland & Co. grew its stake in Broadcom by 0.3% during the second quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock worth $4,623,000 after buying an additional 9 shares during the last quarter. Wealth Group Ltd increased its holdings in shares of Broadcom by 6.0% during the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock worth $283,000 after buying an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in shares of Broadcom by 1.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after acquiring an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, 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 sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’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 transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Cantor Fitzgerald lifted 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. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. The Goldman Sachs Group boosted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley increased their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Stock Down 1.8 %

Shares of NASDAQ:AVGO opened at $170.38 on Friday. The company has a 50 day moving average price of $171.93 and a two-hundred day moving average price of $158.86. 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 has a market capitalization of $795.77 billion, a PE ratio of 148.03, a PEG ratio of 2.07 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.24%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

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.