MidWestOne Financial Group Inc. Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

MidWestOne Financial Group Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 942.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,396 shares of the semiconductor manufacturer’s stock after buying an additional 26,577 shares during the quarter. Broadcom makes up approximately 0.7% of MidWestOne Financial Group Inc.’s portfolio, making the stock its 19th biggest position. MidWestOne Financial Group Inc.’s holdings in Broadcom were worth $5,071,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Castleview Partners LLC grew its holdings in shares of Broadcom by 1,030.8% during the 3rd 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. boosted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the period. Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in shares of Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 216 shares during the period. Finally, Krane Funds Advisors LLC bought a new stake in shares of Broadcom in the 3rd quarter valued at about $42,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 0.3 %

NASDAQ:AVGO opened at $178.94 on Tuesday. The stock has a market cap of $835.75 billion, a price-to-earnings ratio of 155.60, a PEG ratio of 2.11 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company’s 50 day moving average price is $173.14 and its 200-day moving average price is $163.05. Broadcom Inc. has a 52 week low of $95.61 and a 52 week high of $186.42.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Three equities research 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. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $195.96.

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by corporate 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.