Strs Ohio raised its position in shares of Broadcom Inc (NASDAQ:AVGO) by 22.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 437,695 shares of the semiconductor manufacturer’s stock after purchasing an additional 79,825 shares during the quarter. Strs Ohio owned about 0.11% of Broadcom worth $107,992,000 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. Bainco International Investors boosted its stake in shares of Broadcom by 0.6% during the 3rd quarter. Bainco International Investors now owns 56,077 shares of the semiconductor manufacturer’s stock worth $13,836,000 after acquiring an additional 325 shares in the last quarter. Triangle Securities Wealth Management boosted its stake in shares of Broadcom by 12.7% during the 3rd quarter. Triangle Securities Wealth Management now owns 2,914 shares of the semiconductor manufacturer’s stock worth $719,000 after acquiring an additional 328 shares in the last quarter. LFA Lugano Financial Advisors SA boosted its stake in shares of Broadcom by 10.8% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 3,592 shares of the semiconductor manufacturer’s stock worth $886,000 after acquiring an additional 350 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in shares of Broadcom by 17.2% during the 2nd quarter. KCM Investment Advisors LLC now owns 2,600 shares of the semiconductor manufacturer’s stock worth $631,000 after acquiring an additional 381 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its stake in shares of Broadcom by 3.4% during the 2nd quarter. Aviance Capital Partners LLC now owns 12,175 shares of the semiconductor manufacturer’s stock worth $2,954,000 after acquiring an additional 400 shares in the last quarter. 88.02% of the stock is owned by hedge funds and other institutional investors.

Shares of AVGO traded up $0.23 during mid-day trading on Friday, reaching $228.25. The company’s stock had a trading volume of 135,030 shares, compared to its average volume of 3,771,339. The company has a quick ratio of 3.42, a current ratio of 3.98 and a debt-to-equity ratio of 0.64. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $285.68. The firm has a market capitalization of $98.06 billion, a P/E ratio of 16.09, a PEG ratio of 0.98 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.82 by $0.16. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company earned $4.10 earnings per share. Broadcom’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts expect that Broadcom Inc will post 18.09 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Wednesday, September 19th were issued a dividend of $1.75 per share. The ex-dividend date was Tuesday, September 18th. This represents a $7.00 annualized dividend and a dividend yield of 3.07%. Broadcom’s dividend payout ratio is 48.95%.

In related news, insider Kirsten M. Spears sold 1,194 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $238.62, for a total value of $4,772,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,194 shares of company stock valued at $13,785,345. 3.30% of the stock is owned by corporate insiders.

Several equities research analysts have recently weighed in on the company. Longbow Research lowered Broadcom from a “buy” rating to a “neutral” rating in a research note on Thursday, July 12th. BMO Capital Markets lowered Broadcom from an “outperform” rating to a “market perform” rating and set a $230.00 price objective for the company. in a research note on Friday, July 13th. B. Riley lowered Broadcom from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $308.00 to $245.00 in a research note on Thursday, July 12th. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 28th. Finally, Goldman Sachs Group lowered Broadcom from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $300.00 to $220.00 in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $290.77.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Further Reading: Leveraged Buyout (LBO) Explained

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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