Vaughan Nelson Investment Management L.P. Has $3.07 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Vaughan Nelson Investment Management L.P. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 643.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,800 shares of the semiconductor manufacturer’s stock after buying an additional 15,405 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Broadcom were worth $3,070,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. River Street Advisors LLC lifted its holdings in Broadcom by 951.8% in the third quarter. River Street Advisors LLC now owns 18,228 shares of the semiconductor manufacturer’s stock valued at $3,144,000 after buying an additional 16,495 shares during the period. Turtle Creek Wealth Advisors LLC raised its holdings in Broadcom by 924.1% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 48,612 shares of the semiconductor manufacturer’s stock worth $8,386,000 after purchasing an additional 43,865 shares during the period. 1776 Wealth LLC raised its holdings in Broadcom by 907.6% in the third quarter. 1776 Wealth LLC now owns 2,912 shares of the semiconductor manufacturer’s stock worth $502,000 after purchasing an additional 2,623 shares during the period. LJI Wealth Management LLC raised its holdings in Broadcom by 970.4% in the third quarter. LJI Wealth Management LLC now owns 3,971 shares of the semiconductor manufacturer’s stock worth $685,000 after purchasing an additional 3,600 shares during the period. Finally, Heritage Investment Group Inc. raised its holdings in Broadcom by 3,178.0% in the third quarter. Heritage Investment Group Inc. now owns 5,671 shares of the semiconductor manufacturer’s stock worth $978,000 after purchasing an additional 5,498 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Morgan Stanley increased their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Truist Financial raised their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Performance

Shares of AVGO opened at $165.67 on Tuesday. The firm has a 50-day moving average of $173.34 and a 200-day moving average of $159.57. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The company has a market cap of $773.77 billion, a PE ratio of 143.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. 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 (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company 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%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction dated 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 completion of the sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

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.