Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Madrona Financial Services LLC

Madrona Financial Services LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 938.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,620 shares of the semiconductor manufacturer’s stock after buying an additional 1,464 shares during the period. Madrona Financial Services LLC’s holdings in Broadcom were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. RFG Advisory LLC raised its holdings in shares of Broadcom by 1,075.5% in the 3rd quarter. RFG Advisory LLC now owns 44,259 shares of the semiconductor manufacturer’s stock worth $7,635,000 after purchasing an additional 40,494 shares during the period. Howard Capital Management Group LLC raised its holdings in shares of Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares during the period. LexAurum Advisors LLC raised its holdings in shares of Broadcom by 645.0% in the 3rd quarter. LexAurum Advisors LLC now owns 6,325 shares of the semiconductor manufacturer’s stock worth $1,091,000 after purchasing an additional 5,476 shares during the period. DiNuzzo Private Wealth Inc. raised its holdings in shares of Broadcom by 832.8% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 541 shares of the semiconductor manufacturer’s stock worth $93,000 after purchasing an additional 483 shares during the period. Finally, Onyx Bridge Wealth Group LLC raised its holdings in shares of Broadcom by 897.7% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 11,773 shares of the semiconductor manufacturer’s stock worth $2,031,000 after purchasing an additional 10,593 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Hock E. Tan sold 50,000 shares of the company’s 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 directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 150,000 shares of the business’s 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 sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AVGO. Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group boosted their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Oppenheimer reduced their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Finally, Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Stock Performance

AVGO stock opened at $179.89 on Friday. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The stock has a market capitalization of $837.37 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock’s fifty day moving average is $166.52 and its two-hundred day moving average is $153.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the firm posted $0.95 EPS. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current 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 given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 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.