Embree Financial Group Has $299,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Embree Financial Group lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 975.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,732 shares of the semiconductor manufacturer’s stock after buying an additional 1,571 shares during the period. Embree Financial Group’s holdings in Broadcom were worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. KFA Private Wealth Group LLC boosted its position in shares of Broadcom by 902.3% during the third quarter. KFA Private Wealth Group LLC now owns 1,714 shares of the semiconductor manufacturer’s stock worth $296,000 after buying an additional 1,543 shares during the period. Seamount Financial Group Inc. boosted its position in shares of Broadcom by 369.2% during the third quarter. Seamount Financial Group Inc. now owns 6,785 shares of the semiconductor manufacturer’s stock worth $1,170,000 after buying an additional 5,339 shares during the period. Everett Harris & Co. CA raised its holdings in Broadcom by 888.1% during the third quarter. Everett Harris & Co. CA now owns 2,243 shares of the semiconductor manufacturer’s stock worth $387,000 after acquiring an additional 2,016 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings in Broadcom by 806.5% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 753,935 shares of the semiconductor manufacturer’s stock worth $130,054,000 after acquiring an additional 670,762 shares in the last quarter. Finally, Etesian Wealth Advisors Inc. raised its holdings in Broadcom by 929.3% during the third quarter. Etesian Wealth Advisors Inc. now owns 2,110 shares of the semiconductor manufacturer’s stock worth $364,000 after acquiring an additional 1,905 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 0.9 %

NASDAQ AVGO opened at $179.89 on Monday. 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 Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company has a market cap of $837.37 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The business’s fifty day moving average is $166.52 and its 200 day moving average is $153.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the business posted $0.95 EPS. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVGO. Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. UBS Group dropped their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.