Silver Oak Securities Incorporated Has $3.25 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Silver Oak Securities Incorporated raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2,533.2% in the third quarter, Holdings Channel.com reports. The firm owned 19,038 shares of the semiconductor manufacturer’s stock after buying an additional 18,315 shares during the period. Silver Oak Securities Incorporated’s holdings in Broadcom were worth $3,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Delta Asset Management LLC TN grew its holdings in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Broadcom in the 1st quarter worth $36,000. Clear Point Advisors Inc. raised its holdings 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 purchasing an additional 31 shares during the last quarter. Ruedi Wealth Management Inc. lifted its position in shares of Broadcom by 104.0% during the first quarter. Ruedi Wealth Management Inc. now owns 51 shares of the semiconductor manufacturer’s stock valued at $68,000 after purchasing an additional 26 shares in the last quarter. Finally, Indiana Trust & Investment Management CO boosted its holdings in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock worth $85,000 after purchasing an additional 15 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Oppenheimer reduced their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Truist Financial lifted 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. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Rosenblatt Securities lowered 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. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value 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 $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.0 %

AVGO opened at $173.00 on Monday. The firm has a market capitalization of $805.29 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The company has a fifty day moving average price of $168.18 and a 200-day moving average price of $154.68. 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 posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s revenue was up 47.3% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business 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. 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 1.23%. Broadcom’s payout ratio is presently 9.12%.

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.