Broadcom Inc. (NASDAQ:AVGO) Position Increased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,666 shares of the semiconductor manufacturer’s stock after buying an additional 91 shares during the period. Broadcom accounts for 2.6% of Pathway Financial Advisers LLC’s holdings, making the stock its 2nd biggest position. Pathway Financial Advisers LLC’s holdings in Broadcom were worth $7,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Legend Financial Advisors Inc. lifted its position in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN boosted its position in Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the 1st quarter worth approximately $36,000. Finally, Creekmur Asset Management LLC purchased a new position in Broadcom during the 4th quarter worth approximately $43,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Melius started coverage on shares of Broadcom in a report on Monday, June 3rd. They set a “buy” rating and a $185.00 target price for the company. Wells Fargo & Company boosted their price objective on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Jefferies Financial Group raised their target price on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Melius Research 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, UBS Group cut their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 233,452 shares of company stock worth $51,278,838. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $172.50 on Tuesday. 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 business’s 50 day moving average price is $158.23 and its 200 day moving average price is $148.55. The company has a market cap of $802.97 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 2.78 and a beta of 1.16. Broadcom Inc. has a one year low of $80.89 and a one year high of $185.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current 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 given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 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.