Tsfg LLC Acquires 204 Shares of Broadcom Inc. (NASDAQ:AVGO)

Tsfg LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,073.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223 shares of the semiconductor manufacturer’s stock after purchasing an additional 204 shares during the quarter. Tsfg LLC’s holdings in Broadcom were worth $38,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC boosted its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Tanglewood Legacy Advisors LLC now owns 900 shares of the semiconductor manufacturer’s stock valued at $155,000 after purchasing an additional 810 shares during the last quarter. Roberts Wealth Advisors LLC boosted its stake in Broadcom by 796.3% during the third quarter. Roberts Wealth Advisors LLC now owns 2,420 shares of the semiconductor manufacturer’s stock valued at $437,000 after buying an additional 2,150 shares during the last quarter. MN Wealth Advisors LLC boosted its stake in Broadcom by 903.0% during the third quarter. MN Wealth Advisors LLC now owns 6,048 shares of the semiconductor manufacturer’s stock valued at $1,043,000 after buying an additional 5,445 shares during the last quarter. Stillwater Capital Advisors LLC grew its holdings in Broadcom by 884.2% during the 3rd quarter. Stillwater Capital Advisors LLC now owns 291,402 shares of the semiconductor manufacturer’s stock valued at $50,267,000 after buying an additional 261,793 shares in the last quarter. Finally, Griffin Asset Management Inc. increased its stake in Broadcom by 921.4% in the 3rd quarter. Griffin Asset Management Inc. now owns 17,293 shares of the semiconductor manufacturer’s stock worth $2,983,000 after acquiring an additional 15,600 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.5 %

Shares of AVGO opened at $176.82 on Thursday. The firm has a market cap of $823.08 billion, a P/E ratio of 7.61, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The stock’s 50 day moving average is $165.17 and its two-hundred day moving average is $152.58. 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 (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. Analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 9.12%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Oppenheimer reduced their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Benchmark reiterated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Activity

In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. 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 at this link. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction 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. This trade 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 can be accessed through this link. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. 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 a total of 311,080 shares of company stock worth $53,540,590 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.