Sandbox Financial Partners LLC Acquires 9,688 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sandbox Financial Partners LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 914.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,748 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,688 shares during the period. Sandbox Financial Partners LLC’s holdings in Broadcom were worth $1,854,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Parisi Gray Wealth Management grew its stake in shares of Broadcom by 1,163.0% during the 3rd quarter. Parisi Gray Wealth Management now owns 11,670 shares of the semiconductor manufacturer’s stock valued at $2,013,000 after purchasing an additional 10,746 shares during the period. MKT Advisors LLC boosted its holdings in shares of Broadcom by 911.8% in the third quarter. MKT Advisors LLC now owns 5,403 shares of the semiconductor manufacturer’s stock worth $922,000 after buying an additional 4,869 shares during the last quarter. Miracle Mile Advisors LLC grew its position in Broadcom by 1,049.3% during the third quarter. Miracle Mile Advisors LLC now owns 54,258 shares of the semiconductor manufacturer’s stock valued at $9,360,000 after buying an additional 49,537 shares during the period. IAM Advisory LLC increased its holdings in Broadcom by 857.9% during the third quarter. IAM Advisory LLC now owns 22,530 shares of the semiconductor manufacturer’s stock valued at $3,886,000 after buying an additional 20,178 shares during the last quarter. Finally, Eagle Rock Investment Company LLC raised its position in Broadcom by 846.0% in the third quarter. Eagle Rock Investment Company LLC now owns 166,693 shares of the semiconductor manufacturer’s stock worth $28,755,000 after acquiring an additional 149,073 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.3 %

NASDAQ:AVGO traded up $0.48 during mid-day trading on Monday, hitting $177.12. 6,215,435 shares of the stock traded hands, compared to its average volume of 31,067,781. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $185.16. The stock has a market capitalization of $824.47 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 2.78 and a beta of 1.17. The firm’s 50 day moving average is $159.64 and its two-hundred day moving average is $149.81.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 13th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Evercore ISI lifted their price objective on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Bank of America reiterated a “buy” rating and set a $215.00 price objective (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Finally, TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,452 shares of company stock valued at $52,950,238 in the last three months. Company 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.