FSM Wealth Advisors LLC Purchases 177 Shares of Broadcom Inc. (NASDAQ:AVGO)

FSM Wealth Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 15.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319 shares of the semiconductor manufacturer’s stock after purchasing an additional 177 shares during the period. FSM Wealth Advisors LLC’s holdings in Broadcom were worth $1,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kozak & Associates Inc. lifted its stake in Broadcom by 4.3% during the 2nd quarter. Kozak & Associates Inc. now owns 292 shares of the semiconductor manufacturer’s stock valued at $256,000 after acquiring an additional 12 shares during the period. Armstrong Advisory Group Inc. increased its position in shares of Broadcom by 13.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 113 shares of the semiconductor manufacturer’s stock valued at $98,000 after purchasing an additional 13 shares during the last quarter. Verity Asset Management Inc. increased its position in shares of Broadcom by 3.0% during the 1st quarter. Verity Asset Management Inc. now owns 509 shares of the semiconductor manufacturer’s stock valued at $327,000 after purchasing an additional 15 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Broadcom by 3.1% during the 1st quarter. Rosenberg Matthew Hamilton now owns 531 shares of the semiconductor manufacturer’s stock valued at $341,000 after purchasing an additional 16 shares during the last quarter. Finally, Silver Oak Securities Incorporated increased its position in shares of Broadcom by 2.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 572 shares of the semiconductor manufacturer’s stock valued at $367,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, Director Check Kian Low bought 11,000 shares of Broadcom stock in a transaction on Wednesday, September 6th. The shares were acquired at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the purchase, the director now directly owns 15,951 shares in the company, valued at approximately $13,909,750.53. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction 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 owns 9,123 shares in the company, valued at $7,806,368.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Check Kian Low purchased 11,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the purchase, the director now owns 15,951 shares of the company’s stock, 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 Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $950.00 price target on shares of Broadcom in a research report on Friday, September 1st. Rosenblatt Securities increased their target price on shares of Broadcom from $900.00 to $1,000.00 in a report on Friday, September 1st. TD Cowen increased their target price on shares of Broadcom from $800.00 to $900.00 and gave the stock a “market perform” rating in a report on Friday, September 1st. Bank of America increased their target price on shares of Broadcom from $950.00 to $1,050.00 in a report on Thursday, June 22nd. Finally, KeyCorp reissued an “overweight” rating and issued a $1,000.00 target price on shares of Broadcom in a report on Thursday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $846.14.

Broadcom Trading Up 0.1 %

AVGO traded up $0.67 during trading on Monday, reaching $852.35. The company had a trading volume of 717,171 shares, compared to its average volume of 2,500,881. The stock has a market cap of $351.80 billion, a P/E ratio of 26.23, a PEG ratio of 1.83 and a beta of 1.10. The business has a 50 day simple moving average of $875.05 and a 200-day simple moving average of $763.54. Broadcom Inc. has a 52 week low of $415.07 and a 52 week high of $923.67. The company has a quick ratio of 2.25, a current ratio of 2.50 and a debt-to-equity ratio of 1.73.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.43 by $0.11. The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.85 billion. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. Broadcom’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $9.07 earnings per share. On average, equities analysts anticipate 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 $4.60 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $18.40 dividend on an annualized basis and a yield of 2.16%. Broadcom’s dividend payout ratio is presently 56.58%.

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.