Westside Investment Management Inc. Buys 23,222 Shares of Broadcom Inc. (NASDAQ:AVGO)

Westside Investment Management Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 895.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,815 shares of the semiconductor manufacturer’s stock after buying an additional 23,222 shares during the period. Broadcom accounts for 0.9% of Westside Investment Management Inc.’s portfolio, making the stock its 28th largest position. Westside Investment Management Inc.’s holdings in Broadcom were worth $4,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Castleview Partners LLC lifted its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the period. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC boosted its stake in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares in the last quarter. Tsfg LLC grew its holdings in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC lifted its holdings in shares of Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at $70,744,366. The trade was a 4.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Morgan Stanley upped their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating 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. Finally, Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. 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 stock. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $198.09.

Broadcom Stock Up 6.6 %

AVGO stock opened at $183.20 on Thursday. The business’s 50-day moving average price is $173.22 and its 200-day moving average price is $163.27. The stock has a market cap of $855.65 billion, a P/E ratio of 159.30, a PEG ratio of 2.11 and a beta of 1.13. Broadcom Inc. has a twelve month low of $102.46 and a twelve month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

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.