Intrepid Financial Planning Group LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Intrepid Financial Planning Group LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 948.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,010 shares of the semiconductor manufacturer's stock after acquiring an additional 5,437 shares during the period. Intrepid Financial Planning Group LLC's holdings in Broadcom were worth $1,037,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. AXA S.A. boosted its position in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock valued at $467,334,000 after purchasing an additional 7,608 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after buying an additional 18,206 shares in the last quarter. Whittier Trust Co. grew its position in shares of Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock worth $119,000,000 after buying an additional 623,983 shares during the period. Summit Place Financial Advisors LLC increased its stake in shares of Broadcom by 912.6% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock worth $1,691,000 after acquiring an additional 8,834 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock valued at $13,624,000 after acquiring an additional 71,181 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVGO. 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 research note on Tuesday, October 8th. Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Truist Financial lifted their price objective on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Finally, William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating for the company. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Stock Performance

AVGO stock traded down $5.54 during trading on Friday, reaching $164.84. The stock had a trading volume of 20,836,160 shares, compared to its average volume of 29,525,910. The firm has a market cap of $769.90 billion, a PE ratio of 143.34, a PEG ratio of 2.04 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. The stock's 50 day moving average is $172.84 and its two-hundred day moving average is $159.35. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly 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 analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 184.35%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction that occurred 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 approximately $217,594,136.70. The trade was a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 in the company, 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 have sold 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by insiders.

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.