Secure Asset Management LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Secure Asset Management LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 999.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,793 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,357 shares during the period. Secure Asset Management LLC’s holdings in Broadcom were worth $827,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVGO. Legend Financial Advisors Inc. increased 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. Richardson Capital Management LLC purchased a new stake in Broadcom in the 1st quarter valued at $29,000. Delta Asset Management LLC TN raised its holdings in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new position in shares of Broadcom during the 1st quarter valued at about $36,000. Finally, St. Johns Investment Management Company LLC grew its holdings in shares of Broadcom by 4,000.0% in the first quarter. St. Johns Investment Management Company LLC now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Hock E. Tan sold 10,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 1,171,910 shares of the company’s stock, valued at approximately $195,873,037.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was 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 three months. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.9 %

Shares of NASDAQ:AVGO opened at $179.89 on Friday. The company has a market cap of $837.37 billion, a PE ratio of 7.74, a P/E/G ratio of 2.99 and a beta of 1.17. The company’s 50 day moving average is $166.52 and its two-hundred day moving average is $153.25. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is 9.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVGO. Bank of America reaffirmed a “buy” rating and set a $215.00 target price (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Rosenblatt Securities reduced their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $191.54.

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.