RDA Financial Network Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

RDA Financial Network raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,063 shares of the semiconductor manufacturer’s stock after acquiring an additional 154 shares during the period. Broadcom accounts for about 1.8% of RDA Financial Network’s holdings, making the stock its 7th biggest holding. RDA Financial Network’s holdings in Broadcom were worth $4,392,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AVGO. MRP Capital Investments LLC increased its holdings 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 valued at $36,000 after purchasing an additional 21 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in Broadcom during the fourth quarter worth about $39,000. Sageworth Trust Co acquired a new stake in Broadcom during the first quarter worth about $39,000. VitalStone Financial LLC grew its stake in 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 buying an additional 25 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its holdings 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 acquiring an additional 60 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AVGO shares. Wolfe Research started coverage on shares of Broadcom in a report on Wednesday, July 19th. They issued a “market perform” rating for the company. Truist Financial increased their target price on shares of Broadcom from $942.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 8th. StockNews.com raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Oppenheimer lifted their price target on shares of Broadcom from $900.00 to $990.00 and gave the company an “outperform” rating in a research report on Friday, September 1st. Finally, TD Cowen raised their price objective on Broadcom from $800.00 to $900.00 and gave the company a “market perform” rating in a research note on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $846.14.

Insider Buying and Selling at Broadcom

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

Broadcom Stock Performance

Shares of Broadcom stock traded down $1.14 during trading on Tuesday, hitting $848.86. 779,316 shares of the company’s stock traded hands, compared to its average volume of 2,496,625. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.50 and a quick ratio of 2.25. Broadcom Inc. has a 1 year low of $415.07 and a 1 year high of $923.67. The stock has a market capitalization of $350.36 billion, a P/E ratio of 26.14, a PEG ratio of 1.78 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 (NASDAQ:AVGO) last released 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 company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same period last year, the firm posted $9.07 earnings per share. Broadcom’s revenue was up 4.5% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 37.88 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be issued a $4.60 dividend. This represents a $18.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Wednesday, September 20th. Broadcom’s dividend payout ratio is 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.