Pure Financial Advisors LLC Has $1.56 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Pure Financial Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,678.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,016 shares of the semiconductor manufacturer's stock after buying an additional 8,509 shares during the quarter. Pure Financial Advisors LLC's holdings in Broadcom were worth $1,555,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arcadia Investment Management Corp MI increased its stake in Broadcom by 848.8% during the third quarter. Arcadia Investment Management Corp MI now owns 187,835 shares of the semiconductor manufacturer's stock worth $32,402,000 after purchasing an additional 168,038 shares during the period. New Covenant Trust Company N.A. grew its holdings in shares of Broadcom by 19.3% in the third quarter. New Covenant Trust Company N.A. now owns 3,817 shares of the semiconductor manufacturer's stock valued at $659,000 after purchasing an additional 617 shares in the last quarter. Janney Capital Management LLC increased its stake in Broadcom by 894.2% during the 3rd quarter. Janney Capital Management LLC now owns 180,222 shares of the semiconductor manufacturer's stock worth $31,088,000 after buying an additional 162,094 shares during the period. Northern Financial Advisors Inc lifted its holdings in Broadcom by 866.6% during the 3rd quarter. Northern Financial Advisors Inc now owns 16,152 shares of the semiconductor manufacturer's stock worth $2,786,000 after buying an additional 14,481 shares in the last quarter. Finally, Private Wealth Partners LLC boosted its position in Broadcom by 1,152.6% in the 3rd quarter. Private Wealth Partners LLC now owns 4,522 shares of the semiconductor manufacturer's stock valued at $780,000 after buying an additional 4,161 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 3.2 %

Shares of NASDAQ:AVGO traded up $5.65 during midday trading on Wednesday, reaching $179.55. The company's stock had a trading volume of 23,868,191 shares, compared to its average volume of 29,908,316. Broadcom Inc. has a 1 year low of $87.62 and a 1 year high of $186.42. The business has a 50 day moving average price of $169.80 and a 200 day moving average price of $156.94. 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 firm has a market cap of $838.60 billion, a price-to-earnings ratio of 155.99, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is 184.19%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the business'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 $217,594,136.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AVGO. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, 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. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

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.