Financial Synergies Wealth Advisors Inc. Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Financial Synergies Wealth Advisors Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,477 shares of the semiconductor manufacturer’s stock, valued at approximately $255,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB boosted its stake in shares of Broadcom by 826.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after buying an additional 2,643,845 shares during the last quarter. Swedbank AB acquired a new stake in Broadcom during the first quarter valued at approximately $2,835,737,000. Vanguard Group Inc. grew its position in shares of Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after acquiring an additional 1,303,462 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after acquiring an additional 1,263,957 shares during the last quarter. Finally, GQG Partners LLC raised its position in shares of Broadcom by 48.9% during the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after acquiring an additional 983,328 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO stock opened at $175.08 on Tuesday. The stock has a market cap of $814.98 billion, a P/E ratio of 7.53, a P/E/G ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $185.16. 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 firm has a 50 day simple moving average of $159.64 and a 200 day simple moving average of $149.81.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. Research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.21%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 750 shares of the firm’s 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 completion of the sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The trade was 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, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,452 shares of company stock valued at $56,396,638. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Mizuho raised their target price on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Benchmark reaffirmed a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Two 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 stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Broadcom 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.