Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Foster & Motley Inc.

Foster & Motley Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 869.4% during the third quarter, Holdings Channel reports. The institutional investor owned 50,293 shares of the semiconductor manufacturer’s stock after buying an additional 45,105 shares during the quarter. Foster & Motley Inc.’s holdings in Broadcom were worth $8,676,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Lion Street Advisors LLC raised its position in Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after purchasing an additional 6 shares during the last quarter. O Dell Group LLC increased its stake in Broadcom by 2.3% in the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock valued at $472,000 after purchasing an additional 8 shares during the period. Hudson Value Partners LLC raised its holdings in shares of Broadcom by 2.7% in the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer’s stock valued at $408,000 after buying an additional 8 shares during the last quarter. Renasant Bank boosted its stake in shares of Broadcom by 1.0% during the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer’s stock worth $1,040,000 after buying an additional 8 shares during the period. Finally, Optimum Investment Advisors grew its holdings in shares of Broadcom by 0.6% during the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock worth $2,262,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Hock E. Tan sold 150,000 shares of the company’s 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 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Benchmark reaffirmed a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley raised their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Trading Down 0.1 %

Shares of Broadcom stock opened at $183.64 on Friday. The business has a 50 day moving average price of $170.75 and a 200 day moving average price of $157.78. The company has a market capitalization of $857.71 billion, a P/E ratio of 159.55, a P/E/G ratio of 1.99 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 1 year low of $90.31 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO) last issued 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 for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. Sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared 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. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. Broadcom’s payout ratio is 184.19%.

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.