Goldstone Financial Group LLC Acquires Shares of Broadcom Inc.

Goldstone Financial Group LLC has made a notable investment by purchasing shares of Broadcom Inc. (NASDAQ:AVGO) in the third quarter, as revealed in their latest 13F filing with the Securities and Exchange Commission. The firm added 4,751 shares of the semiconductor manufacturer to its portfolio, valued at an estimated $819,000.

In addition to Goldstone Financial, several other institutional investors and hedge funds have recently adjusted their positions in Broadcom. AXA S.A. increased its shareholding in the company by 2.7% during the second quarter. After acquiring an additional 7,608 shares, AXA now owns 291,078 shares, worth approximately $467,334,000. Furthermore, Whittier Trust Co. significantly boosted its investment by 947.2% in the third quarter, owning now 689,858 shares valued at $119,000,000 after purchasing 623,983 shares during this period. Summit Place Financial Advisors LLC also expanded its stake by 912.6% during the same time frame, now controlling 9,802 shares worth $1,691,000. Signaturefd LLC raised its holdings in Broadcom by an impressive 913.0%, totaling 78,977 shares valued at about $13,624,000 after acquiring an additional 71,181 shares. Lastly, Godsey & Gibb Inc. increased its position in Broadcom by 887.0%, owning 180,672 shares now valued at $31,166,000 following the addition of 162,366 shares. Notably, institutional investors collectively own 76.43% of Broadcom's stock.

Insider Transactions

In addition to institutional investments, there have been some significant insider transactions at Broadcom. CEO Hock E. Tan sold 50,000 shares on September 17th, fetching an average price of $163.37 per share, amounting to a total of $8,168,500. Following this sale, Tan retains ownership of 1,331,910 shares valued at approximately $217,594,136. In another related transaction, insider Charlie B. Kawwas sold 15,950 shares on October 11th at an average price of $181.44, totaling $2,893,968. Following this sale, Kawwas holds 737,330 shares worth about $133,781,155. Recent insider sales amounted to 311,080 shares valued at $53,540,590 over the last 90 days, with corporate insiders owning 2.00% of the company’s stock.

Analysts' Opinions

Market analysts have also been actively reviewing Broadcom stock. Notably, William Blair initiated coverage on the company on September 18th, issuing an “outperform” rating. Benchmark reiterated a “buy” rating with a price target of $210. JPMorgan Chase & Co. raised their target price for Broadcom from $200 to $210 while assigning an “overweight” rating. Rosenblatt Securities lowered their price target from $2,400 to $240 but maintained a “buy” rating. Morgan Stanley adjusted their price objective from $176 to $180, continuing their “overweight” rating on the stock. Overall, two analysts have rated the stock as a hold, while 24 have issued buy ratings, and one has given a strong buy rating, leading to an average rating of “Moderate Buy” and a consensus price target of $191.54 according to MarketBeat.com.

Broadcom's Stock Performance

As of the most recent trading session, shares of Broadcom (NASDAQ:AVGO) opened at $168.92. The company has a market capital of $786.30 billion, a price-to-earnings ratio of 146.89, a PEG ratio of 2.84, and a beta of 1.17. Broadcom's stock has recorded a 12-month low of $86.00 and a 12-month high of $186.42. The stock shows a 50-day moving average price of $168.94 and a 200-day moving average of $156.03.

Broadcom recently announced its quarterly earnings, reporting $1.24 earnings per share (EPS) for the last quarter, slightly surpassing analyst expectations of $1.20 by $0.04. The company recorded a net margin of 10.88% and a return on equity of 30.12%. Revenue for the quarter reached $13.07 billion, exceeding the anticipated $12.98 billion. In the same quarter last year, Broadcom reported $0.95 EPS, marking a 47.3% increase in quarterly revenue from the previous year. Current forecasts predict that Broadcom will report 3.78 earnings per share for the ongoing fiscal year.

Dividend Announcement

Additionally, Broadcom has recently announced a quarterly dividend, which was paid to shareholders on September 30th. Shareholders on record as of September 19th received a dividend of $0.53 per share, representing an increase from the previous dividend. The ex-dividend date was also September 19th, leading to an annualized dividend of $2.12 and a yield of 1.26%. However, Broadcom's dividend payout ratio stands at 184.35%, indicating a strong commitment to returning value to shareholders.

About Broadcom Inc.

Broadcom Inc. is a global leader in designing, developing, and supplying semiconductor devices. The company focuses on complex digital and mixed-signal complementary metal oxide semiconductor-based devices as well as analog III-V based products. Broadcom operates through two main segments: Semiconductor Solutions and Infrastructure Software.

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