ROI Financial Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 863.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,588 shares of the semiconductor manufacturer's stock after buying an additional 36,376 shares during the period. Broadcom accounts for 4.8% of ROI Financial Advisors LLC's investment portfolio, making the stock its 6th biggest position. ROI Financial Advisors LLC's holdings in Broadcom were worth $7,001,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Lion Street Advisors LLC raised its stake in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock valued at $520,000 after acquiring an additional 6 shares during the last quarter. Optimum Investment Advisors increased its holdings in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after purchasing an additional 8 shares in the last quarter. Anderson Hoagland & Co. raised its position in Broadcom by 0.3% in the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock valued at $4,623,000 after purchasing an additional 9 shares during the last quarter. Wealth Group Ltd grew its holdings in shares of Broadcom by 6.0% during the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer's stock worth $283,000 after purchasing an additional 10 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its stake in shares of Broadcom by 1.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer's stock valued at $1,161,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Broadcom
In other news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company's stock.
Broadcom Stock Down 3.3 %
NASDAQ AVGO traded down $5.54 on Friday, reaching $164.84. The company had a trading volume of 20,836,160 shares, compared to its average volume of 17,858,028. The company's fifty day moving average is $172.84 and its 200-day moving average is $159.35. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The firm has a market capitalization of $769.90 billion, a price-to-earnings ratio of 143.21, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The firm's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 184.19%.
Wall Street Analyst Weigh In
AVGO has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Benchmark reissued a "buy" rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Two investment 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. According to data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $192.79.
Check Out Our Latest Report on Broadcom
Broadcom Company Profile
(
Free Report)
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.
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