PSI Advisors LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

PSI Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the third quarter, Holdings Channel reports. The firm owned 630 shares of the semiconductor manufacturer’s stock after acquiring an additional 567 shares during the period. PSI Advisors LLC’s holdings in Broadcom were worth $109,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AVGO. Vanguard Group Inc. raised its stake in shares of Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares in the last quarter. Swedbank AB raised its holdings in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Raymond James & Associates increased its position in Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after purchasing an additional 11,347,563 shares during the period. International Assets Investment Management LLC lifted its position in shares of Broadcom by 226,130.5% in the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after purchasing an additional 8,242,455 shares during the period. Finally, Jennison Associates LLC increased its holdings in Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after buying an additional 1,263,957 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AVGO shares. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Finally, Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.54.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, 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 transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

AVGO opened at $173.00 on Friday. The firm has a 50 day moving average of $168.18 and a two-hundred day moving average of $154.68. The firm has a market capitalization of $805.29 billion, a PE ratio of 7.44, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. 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 results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 earnings per share. On average, analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. 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 was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 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.