Broadcom Inc. (NASDAQ:AVGO) Position Raised by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 899.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,408 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,967 shares during the period. Broadcom accounts for 0.6% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 26th biggest holding. Blodgett Wealth Advisors LLC’s holdings in Broadcom were worth $760,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brookstone Capital Management grew its stake in shares of Broadcom by 7.6% in the first quarter. Brookstone Capital Management now owns 2,981 shares of the semiconductor manufacturer’s stock worth $3,952,000 after purchasing an additional 211 shares in the last quarter. Cypress Wealth Services LLC grew its position in Broadcom by 78.2% in the 1st quarter. Cypress Wealth Services LLC now owns 376 shares of the semiconductor manufacturer’s stock valued at $499,000 after buying an additional 165 shares in the last quarter. Norwood Financial Corp increased its stake in Broadcom by 40.0% during the 1st quarter. Norwood Financial Corp now owns 105 shares of the semiconductor manufacturer’s stock valued at $139,000 after buying an additional 30 shares during the period. Ameliora Wealth Management Ltd. raised its position in shares of Broadcom by 18.7% during the 1st quarter. Ameliora Wealth Management Ltd. now owns 927 shares of the semiconductor manufacturer’s stock worth $1,229,000 after buying an additional 146 shares in the last quarter. Finally, Capital Insight Partners LLC lifted its stake in shares of Broadcom by 17.2% in the 1st quarter. Capital Insight Partners LLC now owns 429 shares of the semiconductor manufacturer’s stock worth $569,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 1.2 %

Shares of NASDAQ:AVGO opened at $171.35 on Friday. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. 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 firm has a market capitalization of $797.61 billion, a P/E ratio of 7.37, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The firm has a fifty day moving average of $167.93 and a two-hundred day moving average of $154.14.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm 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 business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.24%. Broadcom’s payout ratio is 9.12%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Oppenheimer dropped their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Finally, UBS Group lowered their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were 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 approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Charlie B. Kawwas sold 15,950 shares of the 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 transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred 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 $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 sold 311,080 shares of company stock valued at $53,540,590 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

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.