Magnus Financial Group LLC Has $3.14 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Magnus Financial Group LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 934.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,202 shares of the semiconductor manufacturer’s stock after buying an additional 16,442 shares during the quarter. Magnus Financial Group LLC’s holdings in Broadcom were worth $3,140,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. AXA S.A. lifted its stake in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after acquiring an additional 7,608 shares in the last quarter. Renaissance Investment Group LLC raised its holdings in shares of Broadcom by 851.2% in the third quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock valued at $20,867,000 after purchasing an additional 108,251 shares during the last quarter. MRA Advisory Group lifted its position in shares of Broadcom by 954.1% in the third quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock worth $1,631,000 after purchasing an additional 8,558 shares in the last quarter. Red Spruce Capital LLC boosted its holdings in Broadcom by 854.9% during the third quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock worth $5,678,000 after purchasing an additional 29,468 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its position in Broadcom by 19.1% in the second quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock valued at $842,160,000 after purchasing an additional 84,196 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the 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 transaction, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 295,130 shares of company stock worth $50,646,622 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Broadcom stock opened at $175.98 on Wednesday. The company has a market capitalization of $819.17 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 2.99 and a beta of 1.17. The stock’s 50 day moving average is $164.36 and its 200-day moving average is $152.27. 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 12 month low of $81.83 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

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

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Mizuho upped their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday. Benchmark reissued a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Finally, William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.54.

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.