Moloney Securities Asset Management LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Moloney Securities Asset Management LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 915.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,277 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,265 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Broadcom were worth $1,773,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC grew its holdings in Broadcom by 741.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,778 shares of the semiconductor manufacturer’s stock worth $652,000 after acquiring an additional 3,329 shares in the last quarter. Rational Advisors LLC lifted its position in shares of Broadcom by 149.6% during the 3rd quarter. Rational Advisors LLC now owns 2,843 shares of the semiconductor manufacturer’s stock worth $490,000 after purchasing an additional 1,704 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Broadcom by 884.6% during the 3rd quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer’s stock worth $20,619,000 after purchasing an additional 107,389 shares during the last quarter. Capital Investment Services of America Inc. grew its stake in shares of Broadcom by 900.0% during the third quarter. Capital Investment Services of America Inc. now owns 1,750 shares of the semiconductor manufacturer’s stock worth $302,000 after purchasing an additional 1,575 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its holdings in Broadcom by 1,044.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 10,428 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after buying an additional 9,517 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVGO. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group increased their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley increased their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Truist Financial boosted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $183.81 on Friday. Broadcom Inc. has a 52 week low of $89.90 and a 52 week high of $186.42. The company has a 50-day moving average price of $169.80 and a 200 day moving average price of $156.94. The company has a market cap of $858.50 billion, a P/E ratio of 159.70, a PEG ratio of 1.99 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period last year, the firm earned $0.95 EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. Broadcom’s dividend payout ratio is 184.19%.

Insider Activity

In related news, 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s 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 sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.