ROI Financial Advisors LLC Buys 36,376 Shares of Broadcom Inc. (NASDAQ:AVGO)

ROI Financial Advisors LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 863.6% in the third quarter, Holdings Channel reports. The fund owned 40,588 shares of the semiconductor manufacturer’s stock after acquiring an additional 36,376 shares during the period. Broadcom comprises approximately 4.8% of ROI Financial Advisors LLC’s holdings, making the stock its 6th biggest position. ROI Financial Advisors LLC’s holdings in Broadcom were worth $7,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Delta Asset Management LLC TN boosted its position in Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares in the last quarter. Clear Point Advisors Inc. raised its stake in shares of Broadcom by 310.0% in the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after acquiring an additional 31 shares during the last quarter. Indiana Trust & Investment Management CO boosted its holdings in shares of Broadcom by 39.5% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock worth $85,000 after acquiring an additional 15 shares in the last quarter. Creekmur Asset Management LLC grew its position 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 during the last quarter. Finally, Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom during the 2nd quarter valued at $128,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AVGO. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Truist Financial increased their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report 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 note on Monday, November 4th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Morgan Stanley boosted their price objective 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. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Stock Performance

Shares of AVGO stock opened at $164.84 on Friday. The stock has a 50-day moving average of $172.84 and a 200-day moving average of $159.35. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The stock has a market cap of $769.90 billion, a PE ratio of 143.34, a price-to-earnings-growth ratio of 2.04 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.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm 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%. The business’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 earnings per share. As a group, sell-side analysts expect 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 issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom’s payout ratio is currently 184.35%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction on 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 sale, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

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.