Benjamin Edwards Inc. Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Benjamin Edwards Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6,999.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 273,314 shares of the semiconductor manufacturer’s stock after purchasing an additional 269,464 shares during the quarter. Benjamin Edwards Inc.’s holdings in Broadcom were worth $47,159,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lion Street Advisors LLC increased its position in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after buying an additional 6 shares in the last quarter. Optimum Investment Advisors raised its position in shares of Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock worth $2,262,000 after purchasing an additional 8 shares during the last quarter. Anderson Hoagland & Co. raised its stake in Broadcom by 0.3% in the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock valued at $4,623,000 after purchasing an additional 9 shares during the last quarter. Wealth Group Ltd raised its position in shares of Broadcom by 6.0% in the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock valued at $283,000 after buying an additional 10 shares during the last quarter. Finally, Shira Ridge Wealth Management lifted its stake in shares of Broadcom by 6.3% in the second quarter. Shira Ridge Wealth Management now owns 170 shares of the semiconductor manufacturer’s stock worth $273,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 10,000 shares of Broadcom stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total value of $1,671,400.00. Following the transaction, the chief executive officer now directly owns 1,171,910 shares in the company, valued at approximately $195,873,037.40. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 1.5 %

Shares of Broadcom stock opened at $162.08 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a market capitalization of $757.01 billion, a P/E ratio of 140.94, a P/E/G ratio of 1.91 and a beta of 1.17. The company has a 50 day moving average of $173.39 and a 200 day moving average of $161.69.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.31%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 184.35%.

Analysts Set New Price Targets

A number of research firms have commented on AVGO. Mizuho increased their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Rosenblatt Securities cut their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company 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. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Benchmark reissued a “buy” rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

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.