Simplicity Wealth LLC Purchases 894 Shares of Broadcom Inc. (NASDAQ:AVGO)

Simplicity Wealth LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,888 shares of the semiconductor manufacturer’s stock after purchasing an additional 894 shares during the quarter. Simplicity Wealth LLC’s holdings in Broadcom were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in Broadcom by 826.3% in the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after purchasing an additional 2,643,845 shares during the last quarter. Swedbank AB bought a new position in Broadcom during the 1st quarter worth approximately $2,835,737,000. Vanguard Group Inc. grew its holdings in Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Jennison Associates LLC increased its stake in Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares in the last quarter. Finally, GQG Partners LLC increased its stake in Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after purchasing an additional 983,328 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 2.3 %

Shares of NASDAQ AVGO opened at $181.48 on Friday. 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 $847.62 billion, a PE ratio of 157.67, a P/E/G ratio of 2.99 and a beta of 1.17. The company’s fifty day simple moving average is $162.91 and its 200 day simple moving average is $151.64. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 295,130 shares of company stock valued at $50,646,622 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AVGO shares. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday. Rosenblatt Securities reduced their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. William Blair began coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

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.