Financial Management Professionals Inc. Acquires 5,557 Shares of Broadcom Inc. (NASDAQ:AVGO)

Financial Management Professionals Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 905.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,171 shares of the semiconductor manufacturer’s stock after buying an additional 5,557 shares during the quarter. Financial Management Professionals Inc.’s holdings in Broadcom were worth $1,064,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AVGO. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares in the last quarter. Swedbank AB raised its holdings in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Raymond James & Associates lifted its position in Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Broadcom by 226,130.5% during the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock valued at $14,224,520,000 after purchasing an additional 8,242,455 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in Broadcom by 156,028.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock worth $1,256,657,000 after buying an additional 7,280,304 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 4.2 %

Shares of NASDAQ AVGO opened at $179.24 on Wednesday. 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 business has a 50-day moving average of $168.53 and a 200-day moving average of $155.27. The firm has a market capitalization of $834.34 billion, a price-to-earnings ratio of 155.86, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $82.72 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.18%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.35%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 approximately $126,754,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AVGO. William Blair started coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Oppenheimer reduced their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Benchmark restated a “buy” rating and set a $210.00 price target on shares of Broadcom in a research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

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.