Five Oceans Advisors Has $312,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Five Oceans Advisors grew its stake in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 642 shares of the semiconductor manufacturer’s stock after acquiring an additional 26 shares during the period. Five Oceans Advisors’ holdings in Broadcom were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. City State Bank acquired a new stake in shares of Broadcom during the fourth quarter worth $234,000. Hanson & Doremus Investment Management acquired a new stake in Broadcom in the 1st quarter worth about $26,000. Semmax Financial Advisors Inc. boosted its holdings in Broadcom by 300.0% in the 4th quarter. Semmax Financial Advisors Inc. now owns 44 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 33 shares during the period. Ahrens Investment Partners LLC grew its position in shares of Broadcom by 125.0% during the 1st quarter. Ahrens Investment Partners LLC now owns 45 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 25 shares in the last quarter. Finally, Hoey Investments Inc. bought a new position in shares of Broadcom during the first quarter worth approximately $30,000. Institutional investors own 79.60% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Bank of America reduced their price target on Broadcom from $780.00 to $625.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Truist Financial decreased their price target on Broadcom from $658.00 to $630.00 and set a “buy” rating on the stock in a research report on Friday, September 2nd. BMO Capital Markets cut their price objective on shares of Broadcom from $675.00 to $650.00 and set an “outperform” rating for the company in a research report on Friday, September 2nd. KeyCorp decreased their target price on shares of Broadcom from $780.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, September 2nd. Finally, Mizuho upped their price target on shares of Broadcom from $700.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, May 27th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $675.33.

Broadcom Trading Down 1.3 %

NASDAQ:AVGO traded down $6.30 during mid-day trading on Friday, hitting $471.31. 18,142 shares of the company’s stock were exchanged, compared to its average volume of 2,493,283. Broadcom Inc. has a fifty-two week low of $463.91 and a fifty-two week high of $677.76. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $190.88 billion, a P/E ratio of 20.66, a PEG ratio of 0.93 and a beta of 1.09. The company has a 50 day simple moving average of $521.51 and a 200-day simple moving average of $547.95.

Broadcom (NASDAQ:AVGOGet Rating) last issued its quarterly earnings results on Thursday, September 1st. The semiconductor manufacturer reported $9.07 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $0.23. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. Broadcom’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.32 earnings per share. As a group, research analysts expect that Broadcom Inc. will post 34.38 earnings per share for the current year.

Broadcom declared that its board has approved a share buyback program on Thursday, May 26th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 22nd will be paid a $4.10 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $16.40 annualized dividend and a dividend yield of 3.48%. Broadcom’s payout ratio is 70.93%.

Broadcom Company Profile

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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