Broadcom Inc. (NASDAQ:AVGO) Position Increased by Peak Financial Management Inc.

Peak Financial Management Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,550 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,395 shares during the period. Peak Financial Management Inc.’s holdings in Broadcom were worth $267,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AVGO. Vanguard Group Inc. lifted its holdings in Broadcom by 3.0% in the 1st 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 during the last quarter. Swedbank AB increased its holdings in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Jennison Associates LLC increased its holdings in shares of Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Legal & General Group Plc increased its holdings in Broadcom by 2.2% in the second quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after buying an additional 83,846 shares during the last quarter. Finally, GQG Partners LLC increased its holdings in Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after buying an additional 983,328 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,130 shares of company stock valued at $50,646,622. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $175.98 on Wednesday. The stock’s 50-day simple moving average is $164.36 and its 200 day simple moving average is $152.27. The firm has a market capitalization of $819.17 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 business 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 period last year, the firm posted $0.95 earnings per share. On average, analysts anticipate 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. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Truist Financial boosted their target price 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. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 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-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.

Broadcom 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.