3,175 Shares in Broadcom Inc. $AVGO Purchased by Montis Financial LLC

Montis Financial LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGOFree Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,175 shares of the semiconductor manufacturer’s stock, valued at approximately $1,047,000.

Other institutional investors have also modified their holdings of the company. Longfellow Investment Management Co. LLC purchased a new stake in Broadcom during the second quarter worth $27,000. Legend Financial Advisors Inc. acquired a new position in shares of Broadcom during the 2nd quarter worth $28,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the 2nd quarter worth about $28,000. LGT Financial Advisors LLC acquired a new stake in Broadcom in the 2nd quarter valued at about $31,000. Finally, New England Capital Financial Advisors LLC purchased a new position in Broadcom during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Raymond James Financial set a $420.00 target price on Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Bank of America raised their price target on Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft set a $430.00 price target on Broadcom and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Broadcom in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of “Buy” and a consensus target price of $438.61.

View Our Latest Stock Analysis on AVGO

Broadcom Price Performance

AVGO stock opened at $328.80 on Thursday. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 69.08, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The stock’s fifty day simple moving average is $357.93 and its 200-day simple moving average is $335.05.

Broadcom (NASDAQ:AVGOGet Free Report) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 earnings per share. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were issued a $0.65 dividend. The ex-dividend date was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is presently 54.62%.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 130,000 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the completion of the sale, the chief executive officer directly owned 595,638 shares of the company’s stock, valued at $194,189,900.76. The trade was a 17.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 320,316 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the transaction, the director directly owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This trade represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 779,901 shares of company stock worth $284,069,237. 2.00% of the stock is currently owned by company insiders.

About Broadcom

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Further Reading

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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