Strategic Blueprint LLC Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Strategic Blueprint LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 952.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,411 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,851 shares during the quarter. Strategic Blueprint LLC’s holdings in Broadcom were worth $2,831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Castleview Partners LLC increased its position in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Delta Asset Management LLC TN grew its stake in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the last quarter. Tsfg LLC increased its holdings in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom during the third quarter valued at $42,000. Finally, Redmont Wealth Advisors LLC boosted its stake in Broadcom by 900.0% in the 3rd quarter. Redmont Wealth Advisors LLC now owns 270 shares of the semiconductor manufacturer’s stock worth $47,000 after purchasing an additional 243 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Price Performance

NASDAQ AVGO opened at $168.92 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12 month low of $86.00 and a 12 month high of $186.42. The stock has a market cap of $788.95 billion, a price-to-earnings ratio of 146.76, a PEG ratio of 2.84 and a beta of 1.17. The company’s 50 day moving average is $168.94 and its two-hundred day moving average is $156.03.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.26%. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on 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 sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. 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 available at the SEC website. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 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.