Fermata Advisors LLC Has $1.37 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

12 Oct 2024, 21:18 by Danessa Lincoln · The Markets Daily

Fermata Advisors LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 974.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,965 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,224 shares during the quarter. Fermata Advisors LLC’s holdings in Broadcom were worth $1,374,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. raised its stake in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new position in Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN raised its stake in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom during the first quarter worth about $36,000. Finally, Creekmur Asset Management LLC acquired a new position in Broadcom during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America reaffirmed a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. JPMorgan Chase & Co. upped their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Oppenheimer lowered their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

Check Out Our Latest Report on AVGO

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 295,130 shares of company stock valued at $50,646,622 over the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $181.48 on Friday. The stock has a market capitalization of $847.62 billion, a price-to-earnings ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The stock’s 50 day moving average price is $162.91 and its two-hundred day moving average price is $151.64. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. On average, equities 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. Stockholders 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 dividend yield of 1.17%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 184.19%.

Broadcom Profile

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