DCF Advisers LLC Purchases Shares of 975 Broadcom Inc. (NASDAQ:AVGO)

DCF Advisers LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, Holdings Channel.com reports. The firm acquired 975 shares of the semiconductor manufacturer’s stock, valued at approximately $1,565,000.

A number of other institutional investors have also modified their holdings of the stock. Legend Financial Advisors Inc. grew its holdings in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares during the period. Richardson Capital Management LLC purchased a new stake in Broadcom in the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN grew its stake in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the period. Redmont Wealth Advisors LLC purchased a new position in shares of Broadcom during the 1st quarter valued at approximately $36,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 3.6 %

Shares of Broadcom stock opened at $167.42 on Friday. Broadcom Inc. has a 1-year low of $79.51 and a 1-year high of $185.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market cap of $779.32 billion, a P/E ratio of 7.20, a P/E/G ratio of 2.55 and a beta of 1.16. The stock’s 50 day simple moving average is $156.80 and its 200-day simple moving average is $146.69.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the business earned $0.95 EPS. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Melius Research initiated coverage on shares of Broadcom in a report on Monday, June 3rd. They issued a “buy” rating and a $185.00 price objective for the company. Benchmark restated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Oppenheimer reduced their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday. Finally, UBS Group reduced their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

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.