Forum Financial Management LP Has $5.22 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Forum Financial Management LP raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 847.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 30,256 shares of the semiconductor manufacturer's stock after buying an additional 27,063 shares during the period. Forum Financial Management LP's holdings in Broadcom were worth $5,219,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AVGO. Delta Asset Management LLC TN increased its holdings in Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. Clear Point Advisors Inc. grew its holdings in shares of Broadcom by 310.0% in the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after buying an additional 31 shares during the period. Indiana Trust & Investment Management CO increased its holdings in shares of Broadcom by 39.5% in the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock worth $85,000 after acquiring an additional 15 shares in the last quarter. Creekmur Asset Management LLC increased its stake in Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after purchasing an additional 35 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. bought a new stake in shares of Broadcom during the second quarter worth $128,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday. Rosenblatt Securities lowered their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Cantor Fitzgerald increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Truist Financial raised their price objective on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares of the company's stock, valued at $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Hock E. Tan sold 150,000 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated 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 sale, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 0.00 % 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 three months. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

Broadcom stock traded up $4.33 during mid-day trading on Thursday, reaching $183.88. The company had a trading volume of 13,179,859 shares, compared to its average volume of 29,831,672. The business has a fifty day simple moving average of $169.80 and a 200 day simple moving average of $156.94. The company has a market cap of $858.83 billion, a P/E ratio of 159.90, a P/E/G ratio of 1.99 and a beta of 1.17. 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 fifty-two week low of $89.90 and a fifty-two week high of $186.42.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. Broadcom's payout ratio is currently 184.35%.

Broadcom Company 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.