Semus Wealth Partners LLC Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Semus Wealth Partners LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3,453.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,477 shares of the semiconductor manufacturer's stock after acquiring an additional 4,351 shares during the period. Semus Wealth Partners LLC's holdings in Broadcom were worth $772,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of Broadcom during the third quarter worth $55,000. Napa Wealth Management bought a new stake in shares of Broadcom during the third quarter worth $3,613,000. CAP Partners LLC increased its position in shares of Broadcom by 891.0% during the third quarter. CAP Partners LLC now owns 2,765 shares of the semiconductor manufacturer's stock worth $477,000 after acquiring an additional 2,486 shares in the last quarter. Tidemark LLC increased its position in shares of Broadcom by 961.9% during the third quarter. Tidemark LLC now owns 1,030 shares of the semiconductor manufacturer's stock worth $178,000 after acquiring an additional 933 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC increased its position in shares of Broadcom by 1,487.6% during the third quarter. Cassaday & Co Wealth Management LLC now owns 5,620 shares of the semiconductor manufacturer's stock worth $969,000 after acquiring an additional 5,266 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $163.25 on Thursday. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. 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 firm has a market capitalization of $762.47 billion, a PE ratio of 141.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The firm has a fifty day simple moving average of $173.78 and a two-hundred day simple moving average of $160.09.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results 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 firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business's revenue was up 47.3% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change 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 1.30%. Broadcom's dividend payout ratio is presently 184.35%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating for the company. Truist Financial increased their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Mizuho increased their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Morgan Stanley increased their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.