ERn Financial LLC Has $1.04 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

by · The Cerbat Gem

ERn Financial LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 1,012.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,052 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,508 shares during the period. ERn Financial LLC’s holdings in Broadcom were worth $1,044,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Brady Family Wealth LLC lifted its stake in Broadcom by 939.4% in the third quarter. Brady Family Wealth LLC now owns 45,392 shares of the semiconductor manufacturer’s stock valued at $7,830,000 after acquiring an additional 41,025 shares during the last quarter. Capital Advisors Wealth Management LLC lifted its stake in Broadcom by 902.0% in the 3rd quarter. Capital Advisors Wealth Management LLC now owns 16,643 shares of the semiconductor manufacturer’s stock valued at $2,871,000 after purchasing an additional 14,982 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in Broadcom by 14.5% during the third quarter. Foster Victor Wealth Advisors LLC now owns 108,019 shares of the semiconductor manufacturer’s stock worth $20,086,000 after purchasing an additional 13,705 shares during the period. First United Bank & Trust increased its position in Broadcom by 588.6% during the third quarter. First United Bank & Trust now owns 1,150 shares of the semiconductor manufacturer’s stock worth $198,000 after buying an additional 983 shares during the last quarter. Finally, PFG Advisors lifted its position in shares of Broadcom by 886.0% in the third quarter. PFG Advisors now owns 30,200 shares of the semiconductor manufacturer’s stock valued at $5,210,000 after buying an additional 27,137 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock opened at $176.82 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $823.08 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a 50 day moving average of $165.17 and a 200-day moving average of $152.58. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO – Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, equities research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is an increase 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 1.20%. Broadcom’s payout ratio is presently 9.12%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over 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 insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Oppenheimer cut their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. UBS Group decreased their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Finally, William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Read Our Latest Report on AVGO

About Broadcom

(Free Report)

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.

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