Braun Bostich & Associates Inc. Has $1.35 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Braun Bostich & Associates Inc. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 915.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,839 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,067 shares during the period. Broadcom accounts for 0.9% of Braun Bostich & Associates Inc.’s portfolio, making the stock its 28th largest holding. Braun Bostich & Associates Inc.’s holdings in Broadcom were worth $1,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Farmers Trust Co. acquired a new position in shares of Broadcom during the 1st quarter worth about $205,000. Collective Family Office LLC increased its position in Broadcom by 5.6% in the 1st quarter. Collective Family Office LLC now owns 226 shares of the semiconductor manufacturer’s stock worth $300,000 after buying an additional 12 shares during the period. Wedmont Private Capital raised its stake in Broadcom by 2.1% during the 1st quarter. Wedmont Private Capital now owns 3,663 shares of the semiconductor manufacturer’s stock valued at $4,887,000 after purchasing an additional 76 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services raised its position in shares of Broadcom by 20.8% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 7,232 shares of the semiconductor manufacturer’s stock valued at $9,585,000 after buying an additional 1,243 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Broadcom by 6.1% in the 1st quarter. Park Avenue Securities LLC now owns 13,160 shares of the semiconductor manufacturer’s stock valued at $17,442,000 after acquiring an additional 753 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 0.5 %

NASDAQ:AVGO opened at $176.82 on Thursday. The company 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. 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’s fifty day moving average price is $165.17 and its two-hundred day moving average price is $152.58. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42.

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. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. On average, analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial boosted their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Oppenheimer dropped their price objective 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. The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. UBS Group dropped their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Bank of America reaffirmed a “buy” rating and set a $215.00 price objective (up from $200.00) on shares of Broadcom in a report on Monday, June 24th. Two investment 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. According to MarketBeat.com, the stock presently has a consensus 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.