Hardin Capital Partners LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Hardin Capital Partners LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 1,132 shares of the semiconductor manufacturer’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. lifted its holdings in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Broadcom during the 1st quarter worth about $29,000. Delta Asset Management LLC TN lifted its holdings in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the first quarter valued at about $36,000. Finally, Tsfg LLC grew its stake in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This 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 link. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Bank of America reissued a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Performance

Shares of AVGO stock opened at $179.99 on Tuesday. The stock has a 50-day moving average of $167.14 and a 200-day moving average of $153.56. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The stock has a market cap of $837.83 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. 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 (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is 9.12%.

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.