Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by WESPAC Advisors SoCal LLC

WESPAC Advisors SoCal LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 718.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 108,128 shares of the semiconductor manufacturer’s stock after buying an additional 94,919 shares during the period. Broadcom accounts for approximately 4.3% of WESPAC Advisors SoCal LLC’s portfolio, making the stock its 2nd largest holding. WESPAC Advisors SoCal LLC’s holdings in Broadcom were worth $18,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AXA S.A. increased its stake in Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after purchasing an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after acquiring an additional 18,206 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after acquiring an additional 623,983 shares during the last quarter. Summit Place Financial Advisors LLC lifted its holdings in shares of Broadcom by 912.6% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after acquiring an additional 8,834 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Broadcom by 913.0% in the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after acquiring an additional 71,181 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Truist Financial upped their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $192.79.

Insider Transactions at Broadcom

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 shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’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 completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % 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 valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.2 %

NASDAQ:AVGO opened at $165.35 on Wednesday. The stock has a market cap of $772.28 billion, a price-to-earnings ratio of 143.78, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. 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 business’s 50-day simple moving average is $173.68 and its 200 day simple moving average is $159.82.

Broadcom (NASDAQ:AVGO) last announced 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 company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company posted $0.95 EPS. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 184.35%.

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.