Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 867.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,761 shares of the semiconductor manufacturer’s stock after purchasing an additional 94,830 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Broadcom were worth $18,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. Sycomore Asset Management raised its stake in shares of Broadcom by 966.8% in the 3rd quarter. Sycomore Asset Management now owns 107,982 shares of the semiconductor manufacturer’s stock valued at $19,231,000 after acquiring an additional 97,860 shares during the period. Sargent Investment Group LLC raised its position in Broadcom by 961.3% in the third quarter. Sargent Investment Group LLC now owns 3,980 shares of the semiconductor manufacturer’s stock valued at $687,000 after purchasing an additional 3,605 shares during the period. ING Groep NV lifted its stake in shares of Broadcom by 1,024.9% during the third quarter. ING Groep NV now owns 2,865,578 shares of the semiconductor manufacturer’s stock worth $494,312,000 after purchasing an additional 2,610,835 shares in the last quarter. Palo Alto Wealth Advisors LLC purchased a new stake in shares of Broadcom in the third quarter worth about $439,000. Finally, Omnia Family Wealth LLC grew its stake in shares of Broadcom by 1,322.4% in the third quarter. Omnia Family Wealth LLC now owns 2,347 shares of the semiconductor manufacturer’s stock valued at $405,000 after buying an additional 2,182 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, 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 transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on AVGO shares. Mizuho upped 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. Morgan Stanley lifted their price target 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. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Trading Down 3.3 %

NASDAQ:AVGO opened at $164.84 on Monday. The firm has a market capitalization of $769.90 billion, a P/E ratio of 143.21, a P/E/G ratio of 1.94 and a beta of 1.17. The business has a 50 day simple moving average of $172.84 and a 200 day simple moving average of $159.35. 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, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. Equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom’s dividend 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.