Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Hantz Financial Services Inc.

Hantz Financial Services Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 917.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,667 shares of the semiconductor manufacturer’s stock after buying an additional 136,761 shares during the quarter. Hantz Financial Services Inc.’s holdings in Broadcom were worth $26,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Jacobs Levy Equity Management Inc. grew its position in shares of Broadcom by 166.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer’s stock worth $3,070,000 after buying an additional 1,446 shares in the last quarter. Soltis Investment Advisors LLC lifted its stake in Broadcom by 7.4% during the first quarter. Soltis Investment Advisors LLC now owns 521 shares of the semiconductor manufacturer’s stock worth $690,000 after purchasing an additional 36 shares during the last quarter. Cypress Asset Management Inc. TX lifted its stake in Broadcom by 26.1% during the first quarter. Cypress Asset Management Inc. TX now owns 6,190 shares of the semiconductor manufacturer’s stock worth $8,345,000 after purchasing an additional 1,282 shares during the last quarter. American Trust lifted its stake in Broadcom by 9.8% during the first quarter. American Trust now owns 495 shares of the semiconductor manufacturer’s stock worth $656,000 after purchasing an additional 44 shares during the last quarter. Finally, Jackson Wealth Management LLC lifted its stake in Broadcom by 2.2% during the first quarter. Jackson Wealth Management LLC now owns 18,312 shares of the semiconductor manufacturer’s stock worth $24,271,000 after purchasing an additional 386 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AVGO shares. Truist Financial boosted their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Trading Down 3.1 %

Shares of AVGO stock opened at $159.67 on Friday. 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 firm has a market capitalization of $745.75 billion, a PE ratio of 138.84, a P/E/G ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The business’s fifty day moving average price is $173.57 and its 200 day moving average price is $161.49.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business 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 an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.35%.

Insider Activity

In related news, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated 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 transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % 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 worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

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.