1,215 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by MBE Wealth Management LLC

MBE Wealth Management LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,215 shares of the semiconductor manufacturer’s stock, valued at approximately $210,000.

Several other hedge funds have also recently bought and sold shares of the stock. Crew Capital Management Ltd. raised its holdings in Broadcom by 754.1% during the 3rd quarter. Crew Capital Management Ltd. now owns 2,938 shares of the semiconductor manufacturer’s stock worth $507,000 after buying an additional 2,594 shares during the period. Bellecapital International Ltd. acquired a new stake in Broadcom during the 3rd quarter worth approximately $431,000. Prio Wealth Limited Partnership raised its holdings in Broadcom by 865.0% during the 3rd quarter. Prio Wealth Limited Partnership now owns 954,643 shares of the semiconductor manufacturer’s stock worth $164,676,000 after buying an additional 855,712 shares during the period. Trilogy Capital Inc. raised its holdings in Broadcom by 928.5% during the 3rd quarter. Trilogy Capital Inc. now owns 1,625 shares of the semiconductor manufacturer’s stock worth $280,000 after buying an additional 1,467 shares during the period. Finally, McElhenny Sheffield Capital Management LLC raised its holdings in Broadcom by 825.7% during the 3rd quarter. McElhenny Sheffield Capital Management LLC now owns 2,518 shares of the semiconductor manufacturer’s stock worth $434,000 after buying an additional 2,246 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ:AVGO opened at $179.38 on Wednesday. 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 $834.99 billion, a P/E ratio of 7.72, a P/E/G ratio of 2.99 and a beta of 1.17. The firm’s fifty day moving average price is $167.61 and its two-hundred day moving average price is $153.88. 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 released 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 firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. Broadcom’s dividend payout ratio is 9.12%.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated 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 directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. William Blair began coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, Oppenheimer cut their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.