BCM Advisors LLC Raises Position in Broadcom Inc. (NASDAQ:AVGO)

BCM Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,024 shares of the semiconductor manufacturer’s stock after buying an additional 134 shares during the quarter. Broadcom accounts for approximately 1.0% of BCM Advisors LLC’s holdings, making the stock its 18th largest holding. BCM Advisors LLC’s holdings in Broadcom were worth $4,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. increased its position in shares of Broadcom by 35.5% during the first quarter. Hillsdale Investment Management Inc. now owns 420 shares of the semiconductor manufacturer’s stock worth $557,000 after acquiring an additional 110 shares during the last quarter. Alley Investment Management Company LLC acquired a new stake in Broadcom during the 1st quarter valued at approximately $272,000. Resurgent Financial Advisors LLC increased its holdings in Broadcom by 14.2% during the 1st quarter. Resurgent Financial Advisors LLC now owns 514 shares of the semiconductor manufacturer’s stock worth $681,000 after purchasing an additional 64 shares during the last quarter. Trustmark National Bank Trust Department raised its position in shares of Broadcom by 3.4% in the 1st quarter. Trustmark National Bank Trust Department now owns 3,188 shares of the semiconductor manufacturer’s stock valued at $4,225,000 after purchasing an additional 104 shares in the last quarter. Finally, PAX Financial Group LLC boosted its stake in shares of Broadcom by 16.8% during the 1st quarter. PAX Financial Group LLC now owns 230 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 33 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVGO shares. Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. UBS Group boosted their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Morgan Stanley increased their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Truist Financial upped their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Rosenblatt Securities decreased their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated 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 approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $164.84 on Friday. The business has a 50 day moving average price of $172.84 and a two-hundred day moving average price of $159.35. 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 company has a market capitalization of $769.90 billion, a price-to-earnings ratio of 143.34, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during 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 company’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 184.35%.

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.