Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 1,799.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,299 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,862 shares during the period. Cadent Capital Advisors LLC’s holdings in Broadcom were worth $1,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AXA S.A. increased its stake 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 acquiring an additional 7,608 shares during the period. Renaissance Investment Group LLC increased its position in Broadcom by 851.2% during the 3rd quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock worth $20,867,000 after purchasing an additional 108,251 shares during the period. MRA Advisory Group raised its stake in shares of Broadcom by 954.1% during the 3rd quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock worth $1,631,000 after buying an additional 8,558 shares in the last quarter. Red Spruce Capital LLC raised its stake in shares of Broadcom by 854.9% during the 3rd quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock worth $5,678,000 after buying an additional 29,468 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Broadcom by 19.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock valued at $842,160,000 after buying an additional 84,196 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $179.89 on Monday. The company has a 50-day simple moving average of $166.52 and a 200-day simple moving average of $153.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market cap of $837.37 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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 company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm posted $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. 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 dividend payout ratio (DPR) is presently 9.12%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. 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.

Analyst Ratings Changes

Several research firms have issued reports on AVGO. Truist Financial increased their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. The Goldman Sachs Group upped their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.54.

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.