M Holdings Securities Inc. Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

M Holdings Securities Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 470.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,955 shares of the semiconductor manufacturer’s stock after buying an additional 11,507 shares during the period. M Holdings Securities Inc.’s holdings in Broadcom were worth $2,407,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Kennedy Capital Management LLC acquired a new stake in Broadcom in the 1st quarter valued at about $5,723,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Broadcom by 166.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer’s stock worth $3,070,000 after buying an additional 1,446 shares during the period. Levin Capital Strategies L.P. acquired a new stake in Broadcom in the first quarter valued at approximately $331,000. Redwood Investment Management LLC purchased a new position in Broadcom in the first quarter worth approximately $1,015,000. Finally, Creekmur Asset Management LLC grew its holdings in Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock worth $98,000 after acquiring an additional 35 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVGO. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Truist Financial boosted their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Price Performance

Broadcom stock opened at $164.82 on Tuesday. 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 business has a 50 day simple moving average of $173.72 and a 200-day simple moving average of $160.86. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The stock has a market capitalization of $769.80 billion, a PE ratio of 143.20, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17.

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

Broadcom Increases Dividend

The firm also recently announced 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 a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom’s payout ratio is presently 184.19%.

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.