High Falls Advisors Inc Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

High Falls Advisors Inc boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,124.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,939 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,699 shares during the quarter. High Falls Advisors Inc’s holdings in Broadcom were worth $507,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the period. FMR LLC raised its stake in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its holdings in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Broadcom by 962.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock worth $5,519,591,000 after purchasing an additional 28,985,434 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were 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 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 disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.3 %

Shares of AVGO stock opened at $178.94 on Tuesday. The company has a market capitalization of $835.75 billion, a P/E ratio of 155.60, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. 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 twelve month low of $95.61 and a twelve month high of $186.42. The business’s 50 day moving average is $173.14 and its two-hundred day moving average is $163.05.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.96.

About Broadcom

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.