Rehmann Capital Advisory Group Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Rehmann Capital Advisory Group grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 865.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,771 shares of the semiconductor manufacturer’s stock after buying an additional 15,033 shares during the period. Rehmann Capital Advisory Group’s holdings in Broadcom were worth $2,894,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Richardson Financial Services Inc. raised its stake in Broadcom by 2.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after purchasing an additional 59 shares during the last quarter. Tennessee Valley Asset Management Partners raised its position in shares of Broadcom by 5.2% in the second quarter. Tennessee Valley Asset Management Partners now owns 1,288 shares of the semiconductor manufacturer’s stock valued at $2,068,000 after buying an additional 64 shares during the last quarter. Winthrop Advisory Group LLC lifted its stake in shares of Broadcom by 25.7% during the second quarter. Winthrop Advisory Group LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $518,000 after buying an additional 66 shares during the period. Delta Investment Management LLC boosted its position in Broadcom by 14.9% during the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after acquiring an additional 66 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC grew its stake in Broadcom by 6.2% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock worth $1,856,000 after acquiring an additional 67 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Broadcom stock opened at $171.81 on Wednesday. Broadcom Inc. has a 12-month low of $95.61 and a 12-month high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $802.45 billion, a price-to-earnings ratio of 149.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. The firm’s fifty day moving average price is $173.14 and its 200 day moving average price is $163.05.

Analysts Set New Price Targets

A number of research analysts have weighed in on AVGO shares. JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Citigroup raised their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Finally, The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.09.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by 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.