Burns Matteson Capital Management LLC Has $309,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Burns Matteson Capital Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,136.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,793 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,648 shares during the period. Burns Matteson Capital Management LLC’s holdings in Broadcom were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its holdings in shares of Broadcom by 948.7% during the 3rd quarter. Ritholtz Wealth Management now owns 81,296 shares of the semiconductor manufacturer’s stock worth $14,023,000 after purchasing an additional 73,544 shares during the period. Gateway Investment Advisers LLC increased its stake in Broadcom by 861.3% during the third quarter. Gateway Investment Advisers LLC now owns 916,538 shares of the semiconductor manufacturer’s stock valued at $158,103,000 after acquiring an additional 821,195 shares during the period. Code Waechter LLC bought a new position in Broadcom during the third quarter valued at about $941,000. McNamara Financial Services Inc. raised its holdings in Broadcom by 682.6% in the 3rd quarter. McNamara Financial Services Inc. now owns 2,520 shares of the semiconductor manufacturer’s stock valued at $435,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Covea Finance lifted its position in shares of Broadcom by 889.6% in the 3rd quarter. Covea Finance now owns 380,700 shares of the semiconductor manufacturer’s stock worth $65,671,000 after acquiring an additional 342,230 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 2.3 %

Shares of AVGO opened at $181.48 on Friday. The firm has a market capitalization of $847.62 billion, a price-to-earnings ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 52 week low of $81.83 and a 52 week 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 fifty day moving average price is $162.91 and its two-hundred day moving average price is $151.64.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. On average, analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 184.19%.

Analysts Set New Price Targets

A number of brokerages recently commented on AVGO. JPMorgan Chase & Co. upped their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, UBS Group cut their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.29.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 295,130 shares of company stock worth $50,646,622 in the last three months. Insiders own 2.00% of the company’s stock.

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.