Onyx Bridge Wealth Group LLC Purchases 10,593 Shares of Broadcom Inc. (NASDAQ:AVGO)

Onyx Bridge Wealth Group LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 897.7% in the 3rd quarter, Holdings Channel reports. The firm owned 11,773 shares of the semiconductor manufacturer’s stock after buying an additional 10,593 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Broadcom were worth $2,031,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVGO. RFG Advisory LLC lifted its stake in Broadcom by 15.1% in the first quarter. RFG Advisory LLC now owns 3,394 shares of the semiconductor manufacturer’s stock worth $4,499,000 after purchasing an additional 446 shares during the last quarter. MJP Associates Inc. ADV purchased a new position in shares of Broadcom during the first quarter worth approximately $466,000. International Assets Investment Management LLC increased its position in shares of Broadcom by 11.5% during the first quarter. International Assets Investment Management LLC now owns 3,325 shares of the semiconductor manufacturer’s stock worth $4,490,000 after acquiring an additional 344 shares during the period. Crestmont Private Wealth LLC purchased a new position in shares of Broadcom during the first quarter worth approximately $228,000. Finally, Bangor Savings Bank increased its position in shares of Broadcom by 2.4% during the first quarter. Bangor Savings Bank now owns 424 shares of the semiconductor manufacturer’s stock worth $562,000 after acquiring an additional 10 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AVGO shares. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. UBS Group reduced their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Bank of America reaffirmed a “buy” rating and set a $215.00 target price (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. 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 research report on Tuesday, July 16th. Finally, StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.9 %

NASDAQ:AVGO opened at $179.89 on Friday. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The firm has a fifty day simple moving average of $166.52 and a 200-day simple moving average of $153.25. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $837.37 billion, a P/E ratio of 7.74, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. Broadcom’s payout ratio is currently 9.12%.

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.