Narus Financial Partners LLC Purchases 2,002 Shares of Broadcom Inc. (NASDAQ:AVGO)

Narus Financial Partners LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 918.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,220 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,002 shares during the period. Narus Financial Partners LLC’s holdings in Broadcom were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AVGO. AXA S.A. increased its holdings in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after buying an additional 7,608 shares in the last quarter. Renaissance Investment Group LLC increased its holdings in shares of Broadcom by 851.2% during the third quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock worth $20,867,000 after buying an additional 108,251 shares in the last quarter. MRA Advisory Group increased its holdings in shares of Broadcom by 954.1% during the third quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock worth $1,631,000 after buying an additional 8,558 shares in the last quarter. Cadent Capital Advisors LLC increased its holdings in shares of Broadcom by 1,799.1% during the third quarter. Cadent Capital Advisors LLC now owns 8,299 shares of the semiconductor manufacturer’s stock worth $1,432,000 after buying an additional 7,862 shares in the last quarter. Finally, Red Spruce Capital LLC increased its holdings in shares of Broadcom by 854.9% during the third quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock worth $5,678,000 after buying an additional 29,468 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 0.1 %

AVGO opened at $179.99 on Tuesday. 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 fifty-two week low of $81.83 and a fifty-two week high of $186.42. The firm has a market capitalization of $837.83 billion, a PE ratio of 7.74, a P/E/G ratio of 2.99 and a beta of 1.17. The company’s 50-day moving average is $167.14 and its 200 day moving average is $153.56.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change 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 1.18%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Hock E. Tan sold 150,000 shares of the firm’s 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 in the company, valued at $204,399,515.40. This trade represents 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 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Oppenheimer decreased their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. UBS Group decreased their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two equities 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.54.

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.