Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Heritage Financial Services LLC

Heritage Financial Services LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 902.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,496 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,247 shares during the period. Heritage Financial Services LLC’s holdings in Broadcom were worth $431,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVGO. Kowal Investment Group LLC raised its position in Broadcom by 9.4% in the first quarter. Kowal Investment Group LLC now owns 850 shares of the semiconductor manufacturer’s stock valued at $1,127,000 after purchasing an additional 73 shares during the period. Little House Capital LLC grew its stake in shares of Broadcom by 22.6% in the first quarter. Little House Capital LLC now owns 4,205 shares of the semiconductor manufacturer’s stock valued at $5,573,000 after buying an additional 774 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Broadcom by 5.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,611 shares of the semiconductor manufacturer’s stock valued at $6,111,000 after buying an additional 244 shares during the period. CCG Wealth Management LLC lifted its position in Broadcom by 13.5% during the 1st quarter. CCG Wealth Management LLC now owns 210 shares of the semiconductor manufacturer’s stock worth $278,000 after acquiring an additional 25 shares in the last quarter. Finally, Claro Advisors LLC lifted its position in Broadcom by 39.6% during the 1st quarter. Claro Advisors LLC now owns 3,700 shares of the semiconductor manufacturer’s stock worth $4,904,000 after acquiring an additional 1,050 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. UBS Group decreased their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.54.

Insider Activity

In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was 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 directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $173.00 on Monday. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The firm has a market cap of $805.29 billion, a P/E ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17. The stock has a fifty day moving average price of $168.18 and a two-hundred day moving average price of $154.68. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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. 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 quarter last year, the business posted $0.95 earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 9.12%.

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.