Emerald Mutual Fund Advisers Trust Purchases 3,420 Shares of Broadcom Inc. (NASDAQ:AVGO)

Emerald Mutual Fund Advisers Trust boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,800 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,420 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Broadcom were worth $656,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Richardson Financial Services Inc. increased its position in shares of Broadcom by 141.7% during the first quarter. Richardson Financial Services Inc. now owns 145 shares of the semiconductor manufacturer’s stock worth $192,000 after acquiring an additional 85 shares in the last quarter. SPC Financial Inc. increased its holdings in Broadcom by 3.8% during the 1st quarter. SPC Financial Inc. now owns 731 shares of the semiconductor manufacturer’s stock worth $969,000 after purchasing an additional 27 shares in the last quarter. Howland Capital Management LLC raised its stake in shares of Broadcom by 2.3% in the first quarter. Howland Capital Management LLC now owns 487 shares of the semiconductor manufacturer’s stock worth $645,000 after purchasing an additional 11 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Broadcom by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 90,963 shares of the semiconductor manufacturer’s stock valued at $120,563,000 after purchasing an additional 335 shares in the last quarter. Finally, Mitchell Capital Management Co. boosted its position in shares of Broadcom by 12.7% during the first quarter. Mitchell Capital Management Co. now owns 9,344 shares of the semiconductor manufacturer’s stock valued at $12,384,000 after buying an additional 1,056 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $173.90 on Wednesday. The business’s fifty day moving average is $169.37 and its 200 day moving average is $156.58. The firm has a market cap of $812.21 billion, a price-to-earnings ratio of 151.09, a PEG ratio of 1.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 52-week low of $87.12 and a 52-week 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. The firm had revenue of $13.07 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.22%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 184.19%.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Finally, Oppenheimer reduced their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Two investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock worth $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.