OneDigital Investment Advisors LLC Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

OneDigital Investment Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 867.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 105,761 shares of the semiconductor manufacturer’s stock after acquiring an additional 94,830 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Broadcom were worth $18,244,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Hillsdale Investment Management Inc. lifted its position in Broadcom by 35.5% in the first quarter. Hillsdale Investment Management Inc. now owns 420 shares of the semiconductor manufacturer’s stock valued at $557,000 after acquiring an additional 110 shares during the last quarter. PAX Financial Group LLC lifted its holdings in shares of Broadcom by 16.8% in the 1st quarter. PAX Financial Group LLC now owns 230 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 33 shares during the last quarter. Delta Asset Management LLC TN boosted its position in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the period. PYA Waltman Capital LLC grew its stake in Broadcom by 1.1% during the 1st quarter. PYA Waltman Capital LLC now owns 2,071 shares of the semiconductor manufacturer’s stock worth $2,744,000 after buying an additional 23 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC lifted its stake in Broadcom by 2,234.0% in the first quarter. Capitolis Liquid Global Markets LLC now owns 116,700 shares of the semiconductor manufacturer’s stock valued at $154,675,000 after buying an additional 111,700 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 3.3 %

AVGO stock opened at $164.84 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The firm has a market capitalization of $769.90 billion, a PE ratio of 143.21, a P/E/G ratio of 1.94 and a beta of 1.17. The company’s 50 day simple moving average is $172.84 and its 200-day simple moving average is $159.35.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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 analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. Equities analysts expect 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. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom’s payout ratio is presently 184.19%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction on 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 transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on 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 sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, Benchmark reissued a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $192.79.

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.