Braun Bostich & Associates Inc. Has $1.35 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Braun Bostich & Associates Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 915.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,839 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,067 shares during the period. Broadcom comprises about 0.9% of Braun Bostich & Associates Inc.’s investment portfolio, making the stock its 28th largest holding. Braun Bostich & Associates Inc.’s holdings in Broadcom were worth $1,352,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lion Street Advisors LLC boosted its holdings in shares of Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after buying an additional 6 shares in the last quarter. Buckley Wealth Management LLC lifted its position in shares of Broadcom by 0.7% during the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock valued at $1,529,000 after acquiring an additional 8 shares during the period. Legend Financial Advisors Inc. boosted its stake in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in Broadcom by 0.3% in the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock worth $3,929,000 after purchasing an additional 8 shares during the period. Finally, O Dell Group LLC increased its stake in Broadcom by 2.3% in the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock valued at $472,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 0.5 %

NASDAQ:AVGO opened at $176.82 on Thursday. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The stock’s fifty day moving average price is $165.17 and its two-hundred day moving average price is $152.58. 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 $823.08 billion, a P/E ratio of 7.61, a P/E/G ratio of 2.99 and a beta of 1.17.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Hock E. Tan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the completion of the transaction, the chief executive officer now owns 1,171,910 shares of the company’s stock, valued at approximately $195,873,037.40. The trade was 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 the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Morgan Stanley raised their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Mizuho upped their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group cut their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Finally, Oppenheimer decreased their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

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.