Delta Financial Advisors LLC Purchases 15,169 Shares of Broadcom Inc. (NASDAQ:AVGO)

Delta Financial Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 961.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,746 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,169 shares during the quarter. Delta Financial Advisors LLC’s holdings in Broadcom were worth $2,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Addison Advisors LLC increased its position in shares of Broadcom by 873.7% during the 3rd quarter. Addison Advisors LLC now owns 5,287 shares of the semiconductor manufacturer’s stock valued at $912,000 after purchasing an additional 4,744 shares during the last quarter. United Capital Management of KS Inc. grew its position in Broadcom by 887.7% during the third quarter. United Capital Management of KS Inc. now owns 31,548 shares of the semiconductor manufacturer’s stock valued at $5,442,000 after buying an additional 28,354 shares during the period. GDS Wealth Management increased its holdings in Broadcom by 807.6% during the third quarter. GDS Wealth Management now owns 10,737 shares of the semiconductor manufacturer’s stock valued at $1,852,000 after buying an additional 9,554 shares during the last quarter. Catalytic Wealth RIA LLC raised its position in Broadcom by 1,022.4% in the third quarter. Catalytic Wealth RIA LLC now owns 7,318 shares of the semiconductor manufacturer’s stock worth $1,262,000 after acquiring an additional 6,666 shares during the period. Finally, Chartwell Investment Partners LLC boosted its stake in shares of Broadcom by 726.5% during the 3rd quarter. Chartwell Investment Partners LLC now owns 86,199 shares of the semiconductor manufacturer’s stock worth $14,869,000 after acquiring an additional 75,769 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company’s 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 owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Rosenblatt Securities decreased their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. UBS Group raised 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. Finally, Truist Financial upped their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two investment 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. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Performance

Broadcom stock opened at $170.38 on Friday. The company’s 50-day moving average price is $171.93 and its 200-day moving average price is $158.86. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $795.77 billion, a PE ratio of 148.03, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 earnings per share. On average, equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.24%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. 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.