Broadcom Inc. (NASDAQ:AVGO) is Pathway Financial Advisers LLC’s 3rd Largest Position

Pathway Financial Advisers LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 156,028.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,284,970 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,280,304 shares during the quarter. Broadcom comprises about 8.1% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 3rd biggest position. Pathway Financial Advisers LLC owned about 0.16% of Broadcom worth $1,256,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Castleview Partners LLC raised its stake in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the period. Delta Asset Management LLC TN increased its holdings in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Broadcom in the 1st quarter worth $36,000. Tsfg LLC boosted its holdings in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. Finally, Krane Funds Advisors LLC purchased a new stake in Broadcom during the third quarter valued at about $42,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. UBS Group decreased their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Truist Financial lifted their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Oppenheimer decreased their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 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 stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $179.24 on Wednesday. The business has a 50 day simple moving average of $168.53 and a 200-day simple moving average of $155.27. Broadcom Inc. has a twelve month low of $82.72 and a twelve month high of $186.42. The company has a market capitalization of $834.34 billion, a price-to-earnings ratio of 155.86, a price-to-earnings-growth ratio of 2.99 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 (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 47.3% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase 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%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is presently 184.35%.

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.