O Connor Financial Group LLC Buys 1,253 Shares of Broadcom Inc. (NASDAQ:AVGO)

O Connor Financial Group LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,002.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,378 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,253 shares during the period. O Connor Financial Group LLC’s holdings in Broadcom were worth $238,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AVGO. West Financial Advisors LLC purchased a new stake in Broadcom in the third quarter worth about $60,000. Daymark Wealth Partners LLC lifted its position in shares of Broadcom by 914.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 147,659 shares of the semiconductor manufacturer’s stock worth $25,471,000 after purchasing an additional 133,109 shares during the period. Saxon Interests Inc. boosted its stake in shares of Broadcom by 786.7% during the third quarter. Saxon Interests Inc. now owns 13,647 shares of the semiconductor manufacturer’s stock valued at $2,354,000 after purchasing an additional 12,108 shares in the last quarter. Peddock Capital Advisors LLC increased its holdings in Broadcom by 932.3% during the third quarter. Peddock Capital Advisors LLC now owns 12,945 shares of the semiconductor manufacturer’s stock valued at $2,233,000 after buying an additional 11,691 shares during the period. Finally, Eagle Wealth Strategies LLC raised its stake in Broadcom by 908.8% in the third quarter. Eagle Wealth Strategies LLC now owns 2,754 shares of the semiconductor manufacturer’s stock worth $475,000 after buying an additional 2,481 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Bank of America reiterated a “buy” rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Finally, Truist Financial raised their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.29.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, 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 transaction, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,230 shares of company stock worth $47,190,190. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $185.95 on Thursday. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $186.42. The business’s 50 day moving average price is $160.88 and its 200 day moving average price is $150.57. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a market cap of $865.57 billion, a P/E ratio of 8.00, a P/E/G ratio of 2.78 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. During the same period in the prior year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current 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 dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.14%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

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.