XML Financial LLC Has $1.79 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

XML Financial LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 894.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,382 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,338 shares during the quarter. XML Financial LLC’s holdings in Broadcom were worth $1,791,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sustainable Insight Capital Management LLC raised its stake in shares of Broadcom by 835.2% in the third quarter. Sustainable Insight Capital Management LLC now owns 89,520 shares of the semiconductor manufacturer’s stock worth $15,442,000 after purchasing an additional 79,948 shares during the last quarter. RKL Wealth Management LLC raised its position in Broadcom by 1,216.5% in the 3rd quarter. RKL Wealth Management LLC now owns 4,081 shares of the semiconductor manufacturer’s stock valued at $704,000 after buying an additional 3,771 shares during the last quarter. Carr Financial Group Corp lifted its stake in Broadcom by 1,077.2% during the 3rd quarter. Carr Financial Group Corp now owns 5,874 shares of the semiconductor manufacturer’s stock valued at $1,013,000 after acquiring an additional 5,375 shares in the last quarter. GSG Advisors LLC boosted its holdings in Broadcom by 1,068.0% during the 3rd quarter. GSG Advisors LLC now owns 3,936 shares of the semiconductor manufacturer’s stock worth $659,000 after acquiring an additional 3,599 shares during the last quarter. Finally, Sheets Smith Wealth Management grew its stake in shares of Broadcom by 932.2% in the 3rd quarter. Sheets Smith Wealth Management now owns 3,272 shares of the semiconductor manufacturer’s stock worth $564,000 after acquiring an additional 2,955 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AVGO. William Blair began coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Benchmark reiterated a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Truist Financial increased their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.79.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 1.5 %

AVGO stock opened at $176.22 on Wednesday. The company’s 50 day moving average is $171.08 and its 200 day moving average is $158.17. The stock has a market cap of $823.05 billion, a price-to-earnings ratio of 153.10, a price-to-earnings-growth ratio of 2.16 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 1-year low of $90.31 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.20%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.19%.

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.