Stillwater Capital Advisors LLC Has $50.27 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Stillwater Capital Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 884.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 291,402 shares of the semiconductor manufacturer’s stock after acquiring an additional 261,793 shares during the quarter. Broadcom comprises approximately 6.5% of Stillwater Capital Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Stillwater Capital Advisors LLC’s holdings in Broadcom were worth $50,267,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AVGO. Lion Street Advisors LLC grew its holdings in shares of Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after buying an additional 6 shares in the last quarter. Buckley Wealth Management LLC grew its stake in shares of Broadcom by 0.7% during the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after acquiring an additional 8 shares in the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in shares of Broadcom by 0.3% in the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock worth $3,929,000 after purchasing an additional 8 shares in the last quarter. Finally, O Dell Group LLC boosted its holdings in Broadcom by 2.3% during the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock worth $472,000 after purchasing an additional 8 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AVGO. The Goldman Sachs Group boosted 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. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Oppenheimer decreased their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, Bank of America reissued a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. Two 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Price Performance

NASDAQ:AVGO opened at $176.82 on Thursday. 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 firm’s 50-day simple moving average is $165.17 and its 200 day simple moving average is $152.58. The firm has a market cap of $823.08 billion, a price-to-earnings ratio of 7.61, a P/E/G ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.20%. Broadcom’s dividend payout ratio is currently 9.12%.

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were 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 in the company, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 2.00% of the company’s stock.

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.