Centaurus Financial Inc. Purchases 76,092 Shares of Broadcom Inc. (NASDAQ:AVGO)

Centaurus Financial Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,073.8% in the third quarter, Holdings Channel reports. The firm owned 83,178 shares of the semiconductor manufacturer’s stock after acquiring an additional 76,092 shares during the quarter. Broadcom accounts for 0.9% of Centaurus Financial Inc.’s holdings, making the stock its 18th biggest holding. Centaurus Financial Inc.’s holdings in Broadcom were worth $14,348,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Wealth Dimensions Group Ltd. increased its holdings in shares of Broadcom by 1,001.6% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 4,043 shares of the semiconductor manufacturer’s stock worth $697,000 after purchasing an additional 3,676 shares in the last quarter. Seldon Capital LP increased its holdings in Broadcom by 900.0% in the 3rd quarter. Seldon Capital LP now owns 1,920 shares of the semiconductor manufacturer’s stock worth $331,000 after buying an additional 1,728 shares in the last quarter. Alpha DNA Investment Management LLC raised its position in Broadcom by 1,102.8% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 6,940 shares of the semiconductor manufacturer’s stock worth $1,197,000 after buying an additional 6,363 shares during the last quarter. Larson Financial Group LLC lifted its stake in Broadcom by 996.4% during the 3rd quarter. Larson Financial Group LLC now owns 62,439 shares of the semiconductor manufacturer’s stock valued at $10,771,000 after acquiring an additional 56,744 shares during the period. Finally, Sompo Asset Management Co. Ltd. boosted its holdings in shares of Broadcom by 871.3% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 19,620 shares of the semiconductor manufacturer’s stock valued at $3,384,000 after acquiring an additional 17,600 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Mizuho lifted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.96.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom 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 completion of the transaction, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.0 %

NASDAQ AVGO opened at $164.74 on Wednesday. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. 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 stock has a market cap of $769.43 billion, a PE ratio of 143.13, a P/E/G ratio of 1.93 and a beta of 1.17. The stock’s 50 day moving average is $173.76 and its 200 day moving average is $161.09.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is 184.19%.

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.