Hyperion Partners LLC Invests $243,000 in Broadcom Inc. (NASDAQ:AVGO)

Hyperion Partners LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,411 shares of the semiconductor manufacturer’s stock, valued at approximately $243,000.

Other institutional investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. boosted its position in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in shares of Broadcom during the first quarter valued at $29,000. Delta Asset Management LLC TN boosted its position in shares of Broadcom by 242.9% during 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 purchased a new stake in shares of Broadcom during the first quarter valued at $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at $43,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler increased their price objective on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Jefferies Financial Group increased their price objective on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Evercore ISI increased their target price on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company increased their target price on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $3.13 during trading on Thursday, hitting $182.82. 1,080,800 shares of the company’s stock were exchanged, compared to its average volume of 30,883,236. 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 52-week low of $81.83 and a 52-week high of $186.42. The business’s 50-day simple moving average is $161.39 and its 200 day simple moving average is $150.97. The company has a market cap of $851.01 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 2.78 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the business posted $0.95 earnings per share. The firm’s revenue was up 47.3% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 3.78 EPS 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 represents a $2.12 annualized dividend and a dividend yield of 1.16%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,230 shares of company stock worth $47,190,190. 2.00% of the stock is owned by corporate insiders.

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.