Valmark Advisers Inc. Purchases 6,187 Shares of Broadcom Inc. (NASDAQ:AVGO)

Valmark Advisers Inc. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 846.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,918 shares of the semiconductor manufacturer’s stock after buying an additional 6,187 shares during the period. Valmark Advisers Inc.’s holdings in Broadcom were worth $1,193,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after buying an additional 1,303,462 shares in the last quarter. Swedbank AB increased its position in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Raymond James & Associates increased its holdings in Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after purchasing an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Broadcom by 226,130.5% during the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after purchasing an additional 8,242,455 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in Broadcom by 156,028.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock worth $1,256,657,000 after purchasing an additional 7,280,304 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AVGO shares. Oppenheimer lowered their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Benchmark reiterated a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. UBS Group lowered their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Trading Down 0.5 %

Shares of AVGO stock opened at $168.92 on Friday. The firm has a 50 day moving average price of $168.94 and a two-hundred day moving average price of $156.03. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $788.95 billion, a PE ratio of 146.76, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. Broadcom Inc. has a 12-month low of $86.00 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.26%. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’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 transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

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.