FDx Advisors Inc. Has $1.34 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

FDx Advisors Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 991.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,774 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,062 shares during the quarter. FDx Advisors Inc.’s holdings in Broadcom were worth $1,341,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Forge First Asset Management Inc. purchased a new position in shares of Broadcom in the first quarter worth $8,808,000. M&G Plc purchased a new stake in Broadcom during the 1st quarter valued at approximately $588,782,000. First Foundation Advisors lifted its position in Broadcom by 1.1% in the first quarter. First Foundation Advisors now owns 6,873 shares of the semiconductor manufacturer’s stock worth $9,109,000 after buying an additional 78 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Broadcom by 34.9% during the first quarter. Jupiter Asset Management Ltd. now owns 10,129 shares of the semiconductor manufacturer’s stock valued at $13,425,000 after buying an additional 2,622 shares during the period. Finally, Nicolet Advisory Services LLC grew its stake in shares of Broadcom by 42.7% during the first quarter. Nicolet Advisory Services LLC now owns 692 shares of the semiconductor manufacturer’s stock worth $923,000 after acquiring an additional 207 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $170.38 on Friday. The stock’s 50-day moving average is $171.93 and its 200-day moving average is $158.86. The company has a market cap of $795.77 billion, a price-to-earnings ratio of 148.03, a price-to-earnings-growth ratio of 2.07 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 12 month low of $90.31 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last three months. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AVGO shares. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Truist Financial lifted their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

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.