Howard Financial Services LTD. Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Howard Financial Services LTD. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 932.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,163 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,082 shares during the quarter. Howard Financial Services LTD.’s holdings in Broadcom were worth $1,926,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Ethic Inc. grew its position in Broadcom by 9.7% during the 4th quarter. Ethic Inc. now owns 24,218 shares of the semiconductor manufacturer’s stock valued at $27,034,000 after purchasing an additional 2,135 shares during the last quarter. Putnam Investments LLC lifted its stake in shares of Broadcom by 2.2% in the fourth quarter. Putnam Investments LLC now owns 588,836 shares of the semiconductor manufacturer’s stock worth $657,288,000 after buying an additional 12,432 shares in the last quarter. First Financial Bankshares Inc purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $93,341,000. Washington Trust Bank increased its position in shares of Broadcom by 12.4% during the fourth quarter. Washington Trust Bank now owns 482 shares of the semiconductor manufacturer’s stock valued at $538,000 after acquiring an additional 53 shares in the last quarter. Finally, Power Corp of Canada raised its holdings in Broadcom by 4.2% in the 4th quarter. Power Corp of Canada now owns 9,407 shares of the semiconductor manufacturer’s stock worth $10,501,000 after acquiring an additional 378 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction that occurred 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 of the company’s stock, valued at $6,064,917.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $172.32, for a total value of $3,446,400.00. Following the sale, the chief executive officer now directly owns 1,151,910 shares in the company, valued at $198,497,131.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,452 shares of company stock valued at $56,396,638 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

NASDAQ AVGO opened at $179.30 on Wednesday. The company’s 50 day moving average is $160.88 and its two-hundred day moving average is $150.57. 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 stock has a market cap of $834.62 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $185.16.

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. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. 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 yield of 1.18%. Broadcom’s payout ratio is currently 9.12%.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America reissued a “buy” rating and issued a $215.00 target price (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Jefferies Financial Group boosted their target price on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Finally, TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.29.

About Broadcom

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.