Opal Wealth Advisors LLC Purchases 1,953 Shares of Broadcom Inc. (NASDAQ:AVGO)

Opal Wealth Advisors LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 751.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,213 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,953 shares during the period. Opal Wealth Advisors LLC’s holdings in Broadcom were worth $382,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AVGO. Sentry LLC grew its holdings in Broadcom by 1,012.4% during the third quarter. Sentry LLC now owns 1,980 shares of the semiconductor manufacturer’s stock worth $342,000 after purchasing an additional 1,802 shares during the period. Asset Dedication LLC grew its holdings in Broadcom by 763.3% during the third quarter. Asset Dedication LLC now owns 53,049 shares of the semiconductor manufacturer’s stock worth $9,151,000 after purchasing an additional 46,904 shares during the period. CCG Wealth Management LLC grew its holdings in Broadcom by 843.2% during the third quarter. CCG Wealth Management LLC now owns 2,358 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 2,108 shares during the period. Capstone Wealth Management Group LLC grew its holdings in Broadcom by 887.0% during the third quarter. Capstone Wealth Management Group LLC now owns 36,392 shares of the semiconductor manufacturer’s stock worth $6,278,000 after purchasing an additional 32,705 shares during the period. Finally, Cascade Investment Group Inc. grew its holdings in Broadcom by 907.1% during the third quarter. Cascade Investment Group Inc. now owns 5,982 shares of the semiconductor manufacturer’s stock worth $1,032,000 after purchasing an additional 5,388 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Truist Financial raised their price objective 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. UBS Group cut their price objective 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, JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Buying and Selling at Broadcom

In other Broadcom 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CEO Hock E. Tan sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the sale, the chief executive officer now directly owns 1,171,910 shares in the company, valued at approximately $195,873,037.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.5 %

Shares of AVGO opened at $176.82 on Thursday. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The company has a market cap of $823.08 billion, a P/E 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 current ratio of 1.04 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $165.17 and a two-hundred day simple moving average of $152.58.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

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

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.