Retirement Guys Formula LLC Has $1.55 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Retirement Guys Formula LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 957.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,956 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,109 shares during the quarter. Retirement Guys Formula LLC’s holdings in Broadcom were worth $1,545,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. AXA S.A. grew its holdings in Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the period. Godsey & Gibb Inc. grew its holdings in shares of Broadcom by 887.0% during the third quarter. Godsey & Gibb Inc. now owns 180,672 shares of the semiconductor manufacturer’s stock valued at $31,166,000 after buying an additional 162,366 shares during the last quarter. Renaissance Investment Group LLC grew its holdings in shares of Broadcom by 851.2% during the third quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock valued at $20,867,000 after buying an additional 108,251 shares during the last quarter. MRA Advisory Group grew its holdings in shares of Broadcom by 954.1% during the third quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock valued at $1,631,000 after buying an additional 8,558 shares during the last quarter. Finally, Cadent Capital Advisors LLC grew its holdings in shares of Broadcom by 1,799.1% during the third quarter. Cadent Capital Advisors LLC now owns 8,299 shares of the semiconductor manufacturer’s stock valued at $1,432,000 after buying an additional 7,862 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO stock opened at $179.38 on Wednesday. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. The firm has a market capitalization of $834.99 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock’s 50-day simple moving average is $167.61 and its 200-day simple moving average is $153.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer reduced their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.54.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock worth $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.