Vicus Capital Buys 4,009 Shares of Broadcom Inc. (NASDAQ:AVGO)

Vicus Capital boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 597.5% during the third quarter, Holdings Channel.com reports. The fund owned 4,680 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,009 shares during the period. Vicus Capital’s holdings in Broadcom were worth $807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Harbor Advisory Corp MA increased its holdings in Broadcom by 900.0% in the 3rd quarter. Harbor Advisory Corp MA now owns 2,370 shares of the semiconductor manufacturer’s stock valued at $409,000 after buying an additional 2,133 shares during the period. Sky Investment Group LLC increased its stake in Broadcom by 2,374.0% in the third quarter. Sky Investment Group LLC now owns 9,797 shares of the semiconductor manufacturer’s stock valued at $1,690,000 after acquiring an additional 9,401 shares during the last quarter. Surience Private Wealth LLC acquired a new position in Broadcom during the third quarter valued at approximately $4,171,000. DeDora Capital Inc. lifted its stake in Broadcom by 905.8% during the third quarter. DeDora Capital Inc. now owns 28,696 shares of the semiconductor manufacturer’s stock worth $4,950,000 after purchasing an additional 25,843 shares during the last quarter. Finally, Calton & Associates Inc. acquired a new stake in shares of Broadcom in the 3rd quarter valued at $531,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on 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 $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. 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. Also, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AVGO. Mizuho upped their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two investment 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $173.51 on Thursday. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $807.67 billion, a PE ratio of 7.46, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The stock’s fifty day simple moving average is $167.93 and its two-hundred day simple moving average is $154.14.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors 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 1.22%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 9.12%.

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.