MFA Wealth Advisors LLC Has $419,000 Position in Broadcom Inc. (NASDAQ:AVGO)

MFA Wealth Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,430 shares of the semiconductor manufacturer’s stock after buying an additional 2,187 shares during the period. MFA Wealth Advisors LLC’s holdings in Broadcom were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Swedbank AB increased its holdings in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Raymond James & Associates boosted its position in shares of Broadcom by 855.4% in the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after acquiring an additional 11,347,563 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Broadcom by 826.3% in the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after acquiring an additional 2,643,845 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Broadcom by 1,005.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,577,226 shares of the semiconductor manufacturer’s stock valued at $272,072,000 after acquiring an additional 1,434,564 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVGO. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. The Goldman Sachs Group upped their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Morgan Stanley upped their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, UBS Group cut their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $191.54.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’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 transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents 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 valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Broadcom stock opened at $173.00 on Friday. The business has a 50 day moving average of $168.03 and a 200-day moving average of $154.41. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $805.29 billion, a P/E ratio of 7.44, a P/E/G ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during 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 revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm 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 company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 9.12%.

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.