First Dallas Securities Inc. Invests $417,000 in Broadcom Inc. (NASDAQ:AVGO)

First Dallas Securities Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,420 shares of the semiconductor manufacturer’s stock, valued at approximately $417,000.

A number of other hedge funds also recently bought and sold shares of AVGO. Castleview Partners LLC lifted its position in 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 purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its position in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $178.94 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $95.61 and a 12-month high of $186.42. The stock has a 50-day moving average price of $173.14 and a 200 day moving average price of $163.05. The stock has a market capitalization of $835.75 billion, a P/E ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AVGO shares. Cantor Fitzgerald upped their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Mizuho upped their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note 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. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Three analysts have rated the stock with a hold rating, twenty-two 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 company has a consensus rating of “Moderate Buy” and an average target price of $195.96.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was 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 directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. The trade was a 11.26 % 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 in the last quarter. 2.00% of the stock is owned by corporate insiders.

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.