Impact Investors Inc Acquires 1,685 Shares of Broadcom Inc. $AVGO

Impact Investors Inc grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,605 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,685 shares during the period. Broadcom comprises approximately 1.7% of Impact Investors Inc’s investment portfolio, making the stock its 17th biggest holding. Impact Investors Inc’s holdings in Broadcom were worth $2,509,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. JCIC Asset Management Inc. bought a new position in shares of Broadcom during the 3rd quarter worth $31,000. Longfellow Investment Management Co. LLC bought a new position in Broadcom during the 2nd quarter worth about $27,000. Legend Financial Advisors Inc. purchased a new position in Broadcom during the 2nd quarter valued at about $28,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Broadcom in the 2nd quarter valued at about $28,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Broadcom in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. The Goldman Sachs Group reissued a “buy” rating and set a $450.00 price objective on shares of Broadcom in a report on Monday, January 5th. Morgan Stanley increased their target price on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Royal Bank Of Canada began coverage on Broadcom in a report on Wednesday, January 14th. They issued a “sector perform” rating and a $370.00 price target on the stock. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Robert W. Baird set a $420.00 price objective on Broadcom in a research report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $438.61.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the completion of the transaction, the chief financial officer owned 277,237 shares of the company’s stock, valued at $96,428,573.34. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 130,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $326.02, for a total value of $42,382,600.00. Following the sale, the chief executive officer owned 595,638 shares in the company, valued at $194,189,900.76. This trade represents a 17.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 779,901 shares of company stock worth $284,069,237. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.5%

Shares of AVGO stock opened at $324.85 on Tuesday. The stock’s fifty day moving average is $356.84 and its two-hundred day moving average is $336.51. 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 P/E ratio of 68.25, a PEG ratio of 1.06 and a beta of 1.21. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61.

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

Broadcom Increases Dividend

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

About Broadcom

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.