PFG Advisors Purchases 27,137 Shares of Broadcom Inc. (NASDAQ:AVGO)

PFG Advisors raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 886.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,200 shares of the semiconductor manufacturer’s stock after buying an additional 27,137 shares during the period. PFG Advisors’ holdings in Broadcom were worth $5,210,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $73,000. ST Germain D J Co. Inc. boosted its holdings in shares of Broadcom by 11.4% during the first quarter. ST Germain D J Co. Inc. now owns 166 shares of the semiconductor manufacturer’s stock worth $220,000 after purchasing an additional 17 shares during the period. Tompkins Financial Corp boosted its holdings in shares of Broadcom by 10.5% during the first quarter. Tompkins Financial Corp now owns 116 shares of the semiconductor manufacturer’s stock worth $154,000 after purchasing an additional 11 shares during the period. Farmers Trust Co. purchased a new stake in shares of Broadcom during the first quarter worth about $205,000. Finally, Foster Group Inc. boosted its holdings in shares of Broadcom by 29.5% during the first quarter. Foster Group Inc. now owns 408 shares of the semiconductor manufacturer’s stock worth $541,000 after purchasing an additional 93 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom 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 sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 295,130 shares of company stock worth $50,646,622. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 3.5 %

Shares of Broadcom stock opened at $175.98 on Wednesday. The company’s fifty day simple moving average is $164.36 and its 200-day simple moving average is $152.27. The stock has a market capitalization of $819.17 billion, a PE ratio of 7.57, a P/E/G ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the company posted $0.95 EPS. The company’s revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid 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 dividend on an annualized basis and a dividend yield of 1.20%. Broadcom’s payout ratio is 9.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AVGO shares. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark reissued a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Oppenheimer decreased their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.