Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Commonwealth Financial Services LLC

Commonwealth Financial Services LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 949.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,735 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,093 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Broadcom were worth $1,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board lifted its holdings in shares of Broadcom by 5.3% in the 1st quarter. New Mexico Educational Retirement Board now owns 24,046 shares of the semiconductor manufacturer’s stock worth $31,871,000 after acquiring an additional 1,200 shares during the last quarter. River Street Advisors LLC raised its position in Broadcom by 3.7% in the first quarter. River Street Advisors LLC now owns 1,699 shares of the semiconductor manufacturer’s stock valued at $2,252,000 after purchasing an additional 60 shares during the period. Annapolis Financial Services LLC lifted its stake in Broadcom by 38.0% during the first quarter. Annapolis Financial Services LLC now owns 109 shares of the semiconductor manufacturer’s stock worth $144,000 after purchasing an additional 30 shares in the last quarter. Richardson Capital Management LLC purchased a new position in shares of Broadcom during the first quarter worth $29,000. Finally, Cornerstone Wealth Group LLC grew its stake in shares of Broadcom by 14.4% in the first quarter. Cornerstone Wealth Group LLC now owns 9,324 shares of the semiconductor manufacturer’s stock valued at $12,359,000 after buying an additional 1,172 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Broadcom news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction that occurred 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 sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred 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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AVGO. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Rosenblatt Securities dropped their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Benchmark reiterated a “buy” rating and set a $210.00 target price on shares of Broadcom in a report 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 for the company in a research note on Tuesday, July 16th. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Stock Up 1.0 %

AVGO stock opened at $173.00 on Friday. The company has a market cap of $805.29 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a fifty day moving average price of $168.18 and a 200 day moving average price of $154.68. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.23%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

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.