Roman Butler Fullerton & Co. Purchases 4,382 Shares of Broadcom Inc. (NASDAQ:AVGO)

Roman Butler Fullerton & Co. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,203.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,746 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,382 shares during the period. Roman Butler Fullerton & Co.’s holdings in Broadcom were worth $835,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Castleview Partners LLC raised its position in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the period. Delta Asset Management LLC TN increased its holdings 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 buying an additional 17 shares during the period. Tsfg LLC lifted its stake in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Broadcom during the 3rd quarter valued at about $42,000. Finally, Highline Wealth Partners LLC bought a new position in Broadcom during the 3rd quarter worth approximately $45,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Finally, William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Price Performance

Shares of AVGO opened at $179.55 on Thursday. The firm’s 50-day simple moving average is $169.80 and its two-hundred day simple moving average is $156.94. Broadcom Inc. has a fifty-two week low of $87.62 and a fifty-two week high of $186.42. The stock has a market cap of $838.60 billion, a PE ratio of 156.13, a price-to-earnings-growth 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 (NASDAQ:AVGO) last posted 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 company 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 firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS. Analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.35%.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. 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.