Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 806.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 753,935 shares of the semiconductor manufacturer’s stock after acquiring an additional 670,762 shares during the period. Broadcom accounts for 2.7% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 7th largest position. Ferguson Wellman Capital Management Inc.’s holdings in Broadcom were worth $130,054,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Etesian Wealth Advisors Inc. boosted its position 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 during the last quarter. Northside Capital Management LLC boosted its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Northside Capital Management LLC now owns 3,290 shares of the semiconductor manufacturer’s stock worth $568,000 after purchasing an additional 2,961 shares during the last quarter. Key Client Fiduciary Advisors LLC boosted its holdings in shares of Broadcom by 945.0% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 4,044 shares of the semiconductor manufacturer’s stock worth $698,000 after purchasing an additional 3,657 shares during the last quarter. Cahaba Wealth Management Inc. grew its position in shares of Broadcom by 880.9% in the third quarter. Cahaba Wealth Management Inc. now owns 6,876 shares of the semiconductor manufacturer’s stock valued at $1,186,000 after purchasing an additional 6,175 shares in the last quarter. Finally, Clarity Wealth Advisors LLC lifted its position in Broadcom by 955.3% during the third quarter. Clarity Wealth Advisors LLC now owns 4,084 shares of the semiconductor manufacturer’s stock worth $704,000 after buying an additional 3,697 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. 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. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $179.89 on Monday. The firm has a 50 day moving average of $166.52 and a two-hundred day moving average of $153.25. The stock has a market capitalization of $837.37 billion, a PE ratio of 7.74, a P/E/G ratio of 2.99 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 Inc. has a 52 week low of $81.83 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the business posted $0.95 earnings per share. Broadcom’s revenue was up 47.3% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho raised their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $191.54.

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.