Copley Financial Group Inc. Invests $379,000 in Broadcom Inc. (NASDAQ:AVGO)

Copley Financial Group Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,198 shares of the semiconductor manufacturer’s stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. NCP Inc. boosted its stake in shares of Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the period. Stanley Laman Group Ltd. boosted its position in Broadcom by 8.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,435 shares of the semiconductor manufacturer’s stock valued at $2,304,000 after buying an additional 114 shares during the period. Brookstone Capital Management grew its stake in Broadcom by 1,088.3% in the 2nd quarter. Brookstone Capital Management now owns 35,423 shares of the semiconductor manufacturer’s stock worth $56,873,000 after acquiring an additional 32,442 shares in the last quarter. Insight Wealth Partners LLC increased its position in shares of Broadcom by 13.2% during the second quarter. Insight Wealth Partners LLC now owns 727 shares of the semiconductor manufacturer’s stock worth $1,168,000 after acquiring an additional 85 shares during the period. Finally, Gradient Investments LLC raised its stake in shares of Broadcom by 9.1% during the second quarter. Gradient Investments LLC now owns 13,856 shares of the semiconductor manufacturer’s stock valued at $22,246,000 after acquiring an additional 1,159 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVGO shares. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday. Mizuho upped their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $215.96.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The trade was a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’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 value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

AVGO stock traded up $38.96 during midday trading on Friday, reaching $219.62. The stock had a trading volume of 35,125,671 shares, compared to its average volume of 29,061,914. The firm has a fifty day simple moving average of $173.65 and a two-hundred day simple moving average of $163.86. Broadcom Inc. has a 52-week low of $104.15 and a 52-week high of $221.21. 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 stock has a market cap of $1.03 trillion, a PE ratio of 190.81, a P/E/G ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.07%. Broadcom’s dividend payout ratio is 184.19%.

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.