Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,327.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 671 shares of the semiconductor manufacturer’s stock after buying an additional 624 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Broadcom were worth $116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NCP Inc. boosted its stake in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after acquiring an additional 400 shares in the last quarter. ORG Partners LLC increased its position in shares of Broadcom by 1,197.8% in the second quarter. ORG Partners LLC now owns 597 shares of the semiconductor manufacturer’s stock valued at $978,000 after buying an additional 551 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of Broadcom by 20.6% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 692 shares of the semiconductor manufacturer’s stock worth $1,110,000 after buying an additional 118 shares during the last quarter. Leavell Investment Management Inc. boosted its position in shares of Broadcom by 14.7% in the 2nd quarter. Leavell Investment Management Inc. now owns 1,580 shares of the semiconductor manufacturer’s stock worth $2,537,000 after buying an additional 202 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in Broadcom by 310.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 275 shares of the semiconductor manufacturer’s stock valued at $442,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group upped their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Citigroup increased their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $198.09.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

NASDAQ AVGO opened at $171.81 on Wednesday. The stock’s 50-day moving average is $173.14 and its two-hundred day moving average is $163.05. 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 fifty-two week low of $95.61 and a fifty-two week high of $186.42. The firm has a market cap of $802.45 billion, a P/E ratio of 149.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13.

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.