Pathway Financial Advisers LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Pathway Financial Advisers LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 156,028.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,284,970 shares of the semiconductor manufacturer’s stock after buying an additional 7,280,304 shares during the quarter. Broadcom comprises about 8.1% of Pathway Financial Advisers LLC’s holdings, making the stock its 3rd biggest position. Pathway Financial Advisers LLC’s holdings in Broadcom were worth $1,256,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Masso Torrence Wealth Management Inc. boosted its stake in Broadcom by 888.3% during the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 26,189 shares of the semiconductor manufacturer’s stock valued at $4,518,000 after purchasing an additional 23,539 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in Broadcom by 1,671.9% during the third quarter. Arkadios Wealth Advisors now owns 57,692 shares of the semiconductor manufacturer’s stock valued at $9,952,000 after buying an additional 54,436 shares in the last quarter. Forsta AP Fonden grew its holdings in Broadcom by 997.5% during the third quarter. Forsta AP Fonden now owns 1,214,540 shares of the semiconductor manufacturer’s stock worth $209,508,000 after acquiring an additional 1,103,876 shares during the period. Groesbeck Investment Management Corp NJ raised its position in Broadcom by 787.5% in the third quarter. Groesbeck Investment Management Corp NJ now owns 24,060 shares of the semiconductor manufacturer’s stock worth $4,150,000 after acquiring an additional 21,349 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Broadcom by 958.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,267,031 shares of the semiconductor manufacturer’s stock worth $564,183,000 after acquiring an additional 2,958,257 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. 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 150,000 shares of Broadcom stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on 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 owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $179.24 on Wednesday. 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 stock has a market capitalization of $834.34 billion, a PE ratio of 155.86, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12-month low of $82.72 and a 12-month high of $186.42. The company has a 50 day moving average price of $168.53 and a two-hundred day moving average price of $155.27.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, equities analysts predict 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. Stockholders 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. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. Broadcom’s dividend payout ratio is currently 184.35%.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $191.54.

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.