1,515 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Index Fund Advisors Inc.

Index Fund Advisors Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,515 shares of the semiconductor manufacturer’s stock, valued at approximately $261,000.

Other hedge funds also recently modified their holdings of the company. AXA S.A. boosted its holdings in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the period. Whittier Trust Co. boosted its stake in shares of Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares during the period. Signaturefd LLC grew its holdings in shares of Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock valued at $13,624,000 after acquiring an additional 71,181 shares in the last quarter. Godsey & Gibb Inc. increased its stake in shares of Broadcom by 887.0% in the third quarter. Godsey & Gibb Inc. now owns 180,672 shares of the semiconductor manufacturer’s stock worth $31,166,000 after acquiring an additional 162,366 shares during the last quarter. Finally, Renaissance Investment Group LLC raised its holdings in shares of Broadcom by 851.2% during the third quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock worth $20,867,000 after acquiring an additional 108,251 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AVGO shares. Truist Financial lifted their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer decreased their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Finally, The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $191.54.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated 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 directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

AVGO opened at $173.00 on Friday. The stock’s 50 day simple moving average is $168.18 and its 200-day simple moving average is $154.68. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $805.29 billion, a PE ratio of 7.44, a P/E/G ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO) last announced 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The business’s revenue was up 47.3% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 19th. 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.