Farther Finance Advisors LLC Acquires 51,642 Shares of Broadcom Inc. (NASDAQ:AVGO)

Farther Finance Advisors LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,316.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,565 shares of the semiconductor manufacturer’s stock after acquiring an additional 51,642 shares during the period. Farther Finance Advisors LLC’s holdings in Broadcom were worth $9,585,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Swedbank AB grew its holdings in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Raymond James & Associates boosted its position in Broadcom by 855.4% in the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after buying an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Broadcom by 226,130.5% during the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after buying an additional 8,242,455 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Broadcom by 156,028.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock worth $1,256,657,000 after buying an additional 7,280,304 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Broadcom by 833.3% in the 3rd quarter. New York State Common Retirement Fund now owns 5,793,400 shares of the semiconductor manufacturer’s stock valued at $999,362,000 after acquiring an additional 5,172,633 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AVGO shares. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial lifted their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the business’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 sale, the insider now directly owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. 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 stock in a transaction that occurred 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 sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. 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 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

AVGO stock opened at $168.55 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company’s 50-day moving average is $169.12 and its 200-day moving average is $156.30. The stock has a market capitalization of $787.23 billion, a PE ratio of 146.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17. Broadcom Inc. has a 1 year low of $87.12 and a 1 year 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 the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

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