B.O.S.S. Retirement Advisors LLC Buys 3,545 Shares of Broadcom Inc. (NASDAQ:AVGO)

B.O.S.S. Retirement Advisors LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 749.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,018 shares of the semiconductor manufacturer’s stock after buying an additional 3,545 shares during the quarter. Broadcom accounts for 0.7% of B.O.S.S. Retirement Advisors LLC’s investment portfolio, making the stock its 28th largest holding. B.O.S.S. Retirement Advisors LLC’s holdings in Broadcom were worth $3,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. MRP Capital Investments LLC boosted its position in Broadcom by 60.0% in the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 21 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Broadcom in the fourth quarter worth $39,000. Sageworth Trust Co purchased a new position in Broadcom in the first quarter worth $39,000. VitalStone Financial LLC lifted its position in shares of Broadcom by 71.4% during the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 25 shares during the last quarter. Finally, Osterweis Capital Management Inc. lifted its position in shares of Broadcom by 400.0% during the 4th quarter. Osterweis Capital Management Inc. now owns 75 shares of the semiconductor manufacturer’s stock valued at $42,000 after buying an additional 60 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock traded down $19.96 during trading on Friday, hitting $851.68. 5,018,958 shares of the stock traded hands, compared to its average volume of 2,511,156. The company has a quick ratio of 2.25, a current ratio of 2.50 and a debt-to-equity ratio of 1.73. The stock has a market cap of $351.52 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 1.79 and a beta of 1.10. The firm’s fifty day moving average is $874.95 and its 200-day moving average is $759.33. Broadcom Inc. has a 52 week low of $415.07 and a 52 week high of $923.67.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating the consensus estimate of $10.43 by $0.11. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period in the prior year, the company earned $9.07 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 37.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be given a dividend of $4.60 per share. The ex-dividend date is Wednesday, September 20th. This represents a $18.40 annualized dividend and a yield of 2.16%. Broadcom’s payout ratio is 56.58%.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the transaction, the director now directly owns 9,123 shares in the company, valued at approximately $7,806,368.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Eddy W. Hartenstein sold 1,500 shares of Broadcom stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the sale, the director now directly owns 9,123 shares in the company, valued at approximately $7,806,368.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Check Kian Low acquired 11,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the transaction, the director now owns 15,951 shares in the company, valued at approximately $13,909,750.53. The disclosure for this purchase can be found here. 2.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Susquehanna upped their price target on Broadcom from $910.00 to $1,010.00 and gave the company a “positive” rating in a research report on Thursday, August 24th. StockNews.com raised Broadcom from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. KeyCorp reaffirmed an “overweight” rating and set a $1,000.00 price target on shares of Broadcom in a research report on Thursday. Needham & Company LLC upped their price target on Broadcom from $33.00 to $44.00 in a research report on Friday, September 1st. Finally, Benchmark reissued a “buy” rating and set a $950.00 price objective on shares of Broadcom in a report on Friday, September 1st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $846.14.

About Broadcom

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.