Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Second Half Financial Partners LLC

Second Half Financial Partners LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,245.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,247 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,080 shares during the quarter. Second Half Financial Partners LLC’s holdings in Broadcom were worth $388,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clear Point Advisors Inc. increased its holdings in shares of Broadcom by 310.0% in the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 31 shares during the period. Indiana Trust & Investment Management CO raised its position in Broadcom by 39.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock worth $85,000 after buying an additional 15 shares during the last quarter. Creekmur Asset Management LLC lifted its stake in Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock valued at $98,000 after acquiring an additional 35 shares during the period. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Broadcom in the 2nd quarter valued at $128,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom in the second quarter worth $136,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

AVGO opened at $164.23 on Friday. The firm has a market capitalization of $767.05 billion, a PE ratio of 142.68, a PEG ratio of 1.94 and a beta of 1.17. 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 Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The firm’s 50-day moving average price is $173.70 and its 200 day moving average price is $160.62.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.19%.

Wall Street Analyst Weigh In

Several research firms have commented on AVGO. Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Rosenblatt Securities lowered their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. William Blair began coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. JPMorgan Chase & Co. upped their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Two 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’s stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $192.79.

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.