Howard Financial Services LTD. Purchases 12 Shares of Broadcom Inc. (NASDAQ:AVGO)

Howard Financial Services LTD. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,044 shares of the semiconductor manufacturer’s stock after acquiring an additional 12 shares during the period. Howard Financial Services LTD.’s holdings in Broadcom were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MRP Capital Investments LLC raised its position in shares of 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 buying an additional 21 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at about $39,000. Sageworth Trust Co bought a new stake in shares of Broadcom during the 1st quarter valued at about $39,000. VitalStone Financial LLC grew its holdings in shares of Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 25 shares in the last quarter. Finally, Osterweis Capital Management Inc. increased its position in shares of Broadcom by 400.0% in the fourth quarter. Osterweis Capital Management Inc. now owns 75 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 1,500 shares of Broadcom stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the sale, the director now owns 9,123 shares of the company’s stock, valued at approximately $7,806,368.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average cost of $872.03 per share, with a total value of $9,592,330.00. Following the completion of the purchase, the director now directly owns 15,951 shares in the company, valued at $13,909,750.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total value of $1,283,520.00. Following the transaction, the director now directly owns 9,123 shares of the company’s stock, valued at approximately $7,806,368.64. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Broadcom Trading Down 0.8 %

Shares of Broadcom stock traded down $6.42 during trading on Tuesday, reaching $843.58. 385,302 shares of the stock were exchanged, compared to its average volume of 2,494,457. Broadcom Inc. has a 1 year low of $415.07 and a 1 year high of $923.67. The firm has a market cap of $348.18 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. 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’s fifty day moving average is $875.05 and its 200 day moving average is $763.54.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, topping 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 business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.85 billion. During the same quarter last year, the business posted $9.07 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 37.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, September 20th. Broadcom’s payout ratio is currently 56.58%.

Analyst Ratings Changes

A number of equities analysts have commented on AVGO shares. Rosenblatt Securities boosted their price target on shares of Broadcom from $900.00 to $1,000.00 in a research note on Friday, September 1st. Robert W. Baird increased their target price on Broadcom from $900.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, September 5th. Benchmark reaffirmed a “buy” rating and set a $950.00 price target on shares of Broadcom in a research note on Friday, September 1st. Needham & Company LLC increased their price objective on Broadcom from $33.00 to $44.00 in a research report on Friday, September 1st. Finally, Wolfe Research assumed coverage on Broadcom in a research report on Wednesday, July 19th. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price 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.