FSA Investment Group LLC Purchases New Position in Broadcom Inc. $AVGO

FSA Investment Group LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,676 shares of the semiconductor manufacturer’s stock, valued at approximately $559,000. Broadcom comprises about 0.3% of FSA Investment Group LLC’s portfolio, making the stock its 20th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after buying an additional 6,222,802 shares during the period. State Street Corp raised its stake in Broadcom by 0.5% during the 2nd quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after buying an additional 873,963 shares during the period. Geode Capital Management LLC lifted its holdings in Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after acquiring an additional 2,226,585 shares in the last quarter. Norges Bank bought a new position in Broadcom during the second quarter worth about $18,579,549,000. Finally, Invesco Ltd. grew its stake in Broadcom by 8.4% in the second quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock valued at $10,598,641,000 after acquiring an additional 2,978,768 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total value of $10,413,600.00. Following the completion of the sale, the insider directly owned 210,573 shares in the company, valued at approximately $73,094,099.76. This trade represents a 12.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average price of $325.13 per share, with a total value of $325,130.00. Following the acquisition, the director directly owned 36,602 shares of the company’s stock, valued at $11,900,408.26. This trade represents a 2.81% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 779,901 shares of company stock valued at $284,069,237. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AVGO. TD Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Oppenheimer raised their target price on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, Barclays reaffirmed an “overweight” rating and issued a $500.00 price objective (up from $450.00) on shares of Broadcom in a research report on Friday, December 12th. 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $438.61.

Broadcom Stock Performance

AVGO opened at $324.85 on Tuesday. The business’s 50-day simple moving average is $356.84 and its 200 day simple moving average is $336.51. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. 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 firm has a market capitalization of $1.54 trillion, a PE ratio of 68.25, a PEG ratio of 1.06 and a beta of 1.21.

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

Broadcom Increases Dividend

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

Broadcom 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.