Strategic Investment Solutions Inc. IL Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

Strategic Investment Solutions Inc. IL acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 230 shares of the semiconductor manufacturer’s stock, valued at approximately $369,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farmers National Bank lifted its position in Broadcom by 3.7% during the 2nd quarter. Farmers National Bank now owns 5,919 shares of the semiconductor manufacturer’s stock worth $9,503,000 after buying an additional 211 shares in the last quarter. RiverFront Investment Group LLC bought a new position in Broadcom in the 2nd quarter valued at $2,778,000. Sycomore Asset Management increased its position in Broadcom by 7.3% in the second quarter. Sycomore Asset Management now owns 10,122 shares of the semiconductor manufacturer’s stock worth $16,114,000 after purchasing an additional 691 shares during the period. New Century Financial Group LLC bought a new stake in Broadcom during the 2nd quarter worth about $376,000. Finally, Cetera Investment Advisers lifted its position in Broadcom by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 103,316 shares of the semiconductor manufacturer’s stock valued at $165,878,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AVGO shares. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Mizuho raised their price target on Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Bank of America reiterated a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. Finally, Citigroup restated a “buy” rating and set a $156.00 target price on shares of Broadcom in a report on Tuesday, June 11th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,452 shares of company stock worth $51,278,838. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 2.9 %

NASDAQ AVGO opened at $167.47 on Wednesday. The company has a market cap of $779.55 billion, a PE ratio of 7.20, a PEG ratio of 2.78 and a beta of 1.16. Broadcom Inc. has a 12 month low of $80.89 and a 12 month high of $185.16. The stock has a 50 day moving average of $158.30 and a 200-day moving average of $148.82. 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 (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.27%. Broadcom’s payout ratio is presently 9.12%.

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.