Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Retirement Planning Group LLC

Retirement Planning Group LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 797.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,136 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,898 shares during the period. Retirement Planning Group LLC’s holdings in Broadcom were worth $368,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Cardinal Capital Management Inc. lifted its holdings in Broadcom by 838.3% in the third quarter. Cardinal Capital Management Inc. now owns 143,565 shares of the semiconductor manufacturer’s stock worth $24,765,000 after purchasing an additional 128,264 shares during the period. City State Bank increased its stake in shares of Broadcom by 929.9% during the third quarter. City State Bank now owns 1,380 shares of the semiconductor manufacturer’s stock valued at $238,000 after acquiring an additional 1,246 shares during the period. Annex Advisory Services LLC raised its holdings in Broadcom by 865.8% during the third quarter. Annex Advisory Services LLC now owns 40,062 shares of the semiconductor manufacturer’s stock worth $6,911,000 after purchasing an additional 35,914 shares in the last quarter. Westend Capital Management LLC lifted its position in Broadcom by 941.6% in the third quarter. Westend Capital Management LLC now owns 40,184 shares of the semiconductor manufacturer’s stock worth $6,932,000 after purchasing an additional 36,326 shares during the period. Finally, Inspire Investing LLC boosted its stake in Broadcom by 8,570.9% during the 3rd quarter. Inspire Investing LLC now owns 14,307 shares of the semiconductor manufacturer’s stock valued at $2,468,000 after purchasing an additional 14,142 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group cut their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Truist Financial raised their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities dropped their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

Broadcom Stock Performance

Shares of AVGO stock opened at $181.48 on Monday. The firm has a market cap of $844.77 billion, a P/E ratio of 7.81, a PEG ratio of 2.99 and a beta of 1.17. 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 fifty-two week low of $81.83 and a fifty-two week high of $186.42. The stock’s 50-day moving average is $162.91 and its two-hundred day moving average is $151.64.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 analysts’ expectations of $12.98 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company’s revenue was up 47.3% compared to the same quarter last year. Analysts predict 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. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were 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 owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 295,130 shares of company stock valued at $50,646,622 over the last 90 days. 2.00% of the stock is currently owned by company 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.