Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by FMB Wealth Management

FMB Wealth Management boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 921.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,267 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,045 shares during the quarter. FMB Wealth Management’s holdings in Broadcom were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Broadcom by 3.0% during the first 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 grew its position in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares during the last quarter. Van ECK Associates Corp grew its position in Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after buying an additional 11,453,554 shares during the last quarter. Raymond James & Associates grew 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 buying an additional 11,347,563 shares during the last quarter. Finally, National Pension Service grew its position in Broadcom by 1,045.4% in the 3rd quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock valued at $1,427,120,000 after buying an additional 7,550,878 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Truist Financial boosted their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Stock Performance

AVGO stock opened at $176.22 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 firm has a market cap of $823.05 billion, a P/E ratio of 153.10, a P/E/G ratio of 2.16 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The stock’s 50 day simple moving average is $171.08 and its 200 day simple moving average is $158.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. As a group, equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.19%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the company’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 transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction 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 transaction, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom 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.