Broadcom Inc. $AVGO Holdings Boosted by Compass Capital Corp MA ADV

Compass Capital Corp MA ADV raised its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 191.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,248 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,449 shares during the period. Compass Capital Corp MA ADV’s holdings in Broadcom were worth $1,851,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Longfellow Investment Management Co. LLC bought a new stake in Broadcom in the second quarter valued at $27,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Broadcom in the 2nd quarter worth about $28,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Broadcom in the 2nd quarter worth about $31,000. JCIC Asset Management Inc. bought a new stake in Broadcom in the 3rd quarter valued at about $31,000. Finally, Manning & Napier Advisors LLC acquired a new position in Broadcom during the 3rd quarter valued at about $34,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

Analyst Ratings Changes

Several brokerages have commented on AVGO. Citigroup restated a “buy” rating and issued a $458.00 price target (down from $480.00) on shares of Broadcom in a research note on Tuesday, February 17th. Morgan Stanley raised their target price on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Robert W. Baird set a $420.00 price target on Broadcom in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft set a $430.00 price target on Broadcom and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Mizuho set a $480.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $433.13.

Check Out Our Latest Analysis on AVGO

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 38,281 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the sale, the insider owned 266,494 shares in the company, valued at approximately $87,316,759.10. The trade was a 12.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the sale, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 779,101 shares of company stock worth $283,804,325. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $319.55 on Friday. The company has a 50-day moving average of $336.34 and a 200-day moving average of $342.31. The firm has a market cap of $1.52 trillion, a price-to-earnings ratio of 67.13, a price-to-earnings-growth ratio of 1.03 and a beta of 1.21. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 earnings per share. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were given a $0.65 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is 54.62%.

About Broadcom

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Further Reading

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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