Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Ascent Group LLC

Ascent Group LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,994 shares of the semiconductor manufacturer’s stock after purchasing an additional 743 shares during the quarter. Ascent Group LLC’s holdings in Broadcom were worth $8,018,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Kathmere Capital Management LLC increased its holdings in shares of Broadcom by 11.3% in the 2nd quarter. Kathmere Capital Management LLC now owns 672 shares of the semiconductor manufacturer’s stock valued at $1,079,000 after acquiring an additional 68 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Broadcom by 58.4% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 396 shares of the semiconductor manufacturer’s stock valued at $636,000 after acquiring an additional 146 shares during the last quarter. Goodman Advisory Group LLC increased its holdings in shares of Broadcom by 10,611.1% in the 2nd quarter. Goodman Advisory Group LLC now owns 964 shares of the semiconductor manufacturer’s stock valued at $1,548,000 after acquiring an additional 955 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Broadcom by 6.2% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after acquiring an additional 67 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Broadcom by 29.1% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 866 shares of the semiconductor manufacturer’s stock valued at $1,390,000 after acquiring an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The disclosure for this sale can be found here. Insiders sold a total of 233,452 shares of company stock valued at $51,278,838 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of Broadcom in a report on Friday, September 6th. Melius started coverage on Broadcom in a report on Monday, June 3rd. They issued a “buy” rating and a $185.00 price target for the company. Finally, The Goldman Sachs Group raised their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Broadcom Stock Performance

Broadcom stock opened at $172.69 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a fifty day moving average of $158.00 and a two-hundred day moving average of $148.25. The company has a market capitalization of $803.85 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 2.78 and a beta of 1.16. Broadcom Inc. has a fifty-two week low of $80.89 and a fifty-two week high of $185.16.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate 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 last year, the business 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a $0.53 dividend. The ex-dividend date is Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

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.