Te Ahumairangi Investment Management Ltd Purchases 34,131 Shares of Broadcom Inc. (NASDAQ:AVGO)

Te Ahumairangi Investment Management Ltd lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 762.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,610 shares of the semiconductor manufacturer’s stock after buying an additional 34,131 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Broadcom were worth $6,623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Broadcom during the second quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC bought a new position in Broadcom in the second quarter worth approximately $136,000. American Capital Advisory LLC acquired a new stake in Broadcom in the second quarter valued at approximately $169,000. Semus Wealth Partners LLC bought a new stake in shares of Broadcom during the second quarter valued at approximately $202,000. Finally, Palisades Hudson Asset Management L.P. acquired a new position in shares of Broadcom during the second quarter worth approximately $204,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 6.6 %

Shares of AVGO opened at $183.20 on Thursday. Broadcom Inc. has a fifty-two week low of $102.46 and a fifty-two week high of $186.42. The business has a 50-day moving average of $173.47 and a 200 day moving average of $163.58. The firm has a market cap of $855.65 billion, a P/E ratio of 159.30, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Analyst Ratings Changes

A number of analysts have commented on the stock. William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $198.09.

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.