Impact Investors Inc Raises Stock Position in Broadcom Inc. $AVGO

Impact Investors Inc increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,605 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,685 shares during the period. Broadcom makes up approximately 1.7% of Impact Investors Inc’s holdings, making the stock its 17th biggest holding. Impact Investors Inc’s holdings in Broadcom were worth $2,509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom during the second quarter worth approximately $27,000. Legend Financial Advisors Inc. bought a new position in Broadcom during the 2nd quarter worth approximately $28,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $28,000. LGT Financial Advisors LLC bought a new stake in shares of Broadcom in the 2nd quarter valued at approximately $31,000. Finally, New England Capital Financial Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total value of $24,311,000.00. Following the completion of the sale, the chief executive officer owned 132,836 shares in the company, valued at approximately $46,133,942.80. This represents a 34.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the completion of the transaction, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This represents a 9.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 779,901 shares of company stock valued at $284,069,237 over the last three months. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $324.85 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. The company has a market capitalization of $1.54 trillion, a PE ratio of 68.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. The stock has a fifty day moving average of $356.84 and a 200-day moving average of $336.51. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. Broadcom’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom’s payout ratio is 54.62%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Rosenblatt Securities lifted their price objective on shares of Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. UBS Group set a $475.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research report on Monday, December 15th. Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research report on Thursday, January 15th. Piper Sandler reiterated an “overweight” rating and set a $430.00 price objective (up previously from $375.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $450.00 target price on shares of Broadcom in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and a consensus target price of $438.61.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.