Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Compass Wealth Management LLC

Compass Wealth Management LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 833.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 129,982 shares of the semiconductor manufacturer’s stock after purchasing an additional 116,056 shares during the quarter. Broadcom accounts for about 5.3% of Compass Wealth Management LLC’s holdings, making the stock its largest position. Compass Wealth Management LLC’s holdings in Broadcom were worth $22,422,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. increased its holdings in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at about $29,000. Delta Asset Management LLC TN boosted its position in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Broadcom during the first quarter worth about $36,000. Finally, Tsfg LLC increased its position in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during 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 issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Oppenheimer cut their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Truist Financial raised their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.54.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.9 %

NASDAQ AVGO opened at $179.89 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. The stock has a market cap of $837.37 billion, a P/E ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The stock has a 50 day simple moving average of $166.52 and a two-hundred day simple moving average of $153.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $12.98 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. Broadcom’s revenue was up 47.3% on a year-over-year basis. On average, analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 9.12%.

Broadcom 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.