Alpha DNA Investment Management LLC Buys 6,363 Shares of Broadcom Inc. (NASDAQ:AVGO)

Alpha DNA Investment Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,102.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,940 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,363 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Broadcom were worth $1,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Larson Financial Group LLC raised its position in shares of Broadcom by 996.4% in the 3rd quarter. Larson Financial Group LLC now owns 62,439 shares of the semiconductor manufacturer’s stock worth $10,771,000 after acquiring an additional 56,744 shares in the last quarter. Sompo Asset Management Co. Ltd. grew its stake in Broadcom by 871.3% during the third quarter. Sompo Asset Management Co. Ltd. now owns 19,620 shares of the semiconductor manufacturer’s stock worth $3,384,000 after purchasing an additional 17,600 shares during the period. Baltimore Washington Financial Advisors Inc. bought a new stake in Broadcom in the third quarter worth approximately $339,000. MGB Wealth Management LLC lifted its stake in Broadcom by 901.2% in the third quarter. MGB Wealth Management LLC now owns 37,285 shares of the semiconductor manufacturer’s stock valued at $6,434,000 after buying an additional 33,561 shares during the period. Finally, Penserra Capital Management LLC boosted its holdings in shares of Broadcom by 699.5% during the 3rd quarter. Penserra Capital Management LLC now owns 1,094,054 shares of the semiconductor manufacturer’s stock worth $188,723,000 after buying an additional 957,212 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction 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. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO opened at $164.82 on Tuesday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm has a 50-day moving average of $173.72 and a 200 day moving average of $160.86. 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 firm has a market cap of $769.80 billion, a P/E ratio of 143.20, a PEG ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released 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 business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. On average, research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 184.19%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AVGO shares. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Morgan Stanley raised their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

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.