Southern Capital Advisors LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Southern Capital Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 871.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,173 shares of the semiconductor manufacturer’s stock after buying an additional 10,920 shares during the period. Broadcom accounts for 1.2% of Southern Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Southern Capital Advisors LLC’s holdings in Broadcom were worth $2,100,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Tempus Wealth Planning LLC acquired a new stake in shares of Broadcom during the first quarter worth $203,000. Park Edge Advisors LLC boosted its position in shares of Broadcom by 28.2% in the first quarter. Park Edge Advisors LLC now owns 842 shares of the semiconductor manufacturer’s stock worth $1,116,000 after acquiring an additional 185 shares during the last quarter. American National Bank & Trust Co. VA acquired a new position in Broadcom during the first quarter worth approximately $5,055,000. Marshall Financial Group LLC grew its stake in shares of Broadcom by 2.2% during the 1st quarter. Marshall Financial Group LLC now owns 2,695 shares of the semiconductor manufacturer’s stock valued at $3,572,000 after buying an additional 58 shares during the period. Finally, Whelan Financial raised its position in shares of Broadcom by 29.7% in the 1st quarter. Whelan Financial now owns 262 shares of the semiconductor manufacturer’s stock worth $347,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Truist Financial raised their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, 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 research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.54.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 1.5 %

Shares of NASDAQ AVGO opened at $176.64 on Thursday. Broadcom Inc. has a 12-month low of $83.26 and a 12-month high of $186.42. The company has a market cap of $822.24 billion, a price-to-earnings ratio of 153.60, 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. The stock’s 50 day simple moving average is $168.74 and its 200 day simple moving average is $155.58.

Broadcom (NASDAQ:AVGO) last posted 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. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period last year, the business posted $0.95 earnings per share. Equities research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.20%. Broadcom’s dividend payout ratio is 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.