MCF Advisors LLC Has $281,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

MCF Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 142.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 590 shares of the semiconductor manufacturer’s stock after buying an additional 347 shares during the quarter. MCF Advisors LLC’s holdings in Broadcom were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tsfg LLC lifted its position in shares of Broadcom by 218.8% during the second quarter. Tsfg LLC now owns 51 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. ShoreHaven Wealth Partners LLC bought a new position in shares of Broadcom during the first quarter valued at about $27,000. Vigilant Capital Management LLC lifted its position in shares of Broadcom by 124.0% during the second quarter. Vigilant Capital Management LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 31 shares in the last quarter. Solstein Capital LLC bought a new position in shares of Broadcom during the first quarter valued at about $29,000. Finally, MV Capital Management Inc. lifted its position in shares of Broadcom by 588.9% during the second quarter. MV Capital Management Inc. now owns 62 shares of the semiconductor manufacturer’s stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

In related news, insider Mark David Brazeal sold 9,453 shares of the company’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $502.38, for a total transaction of $4,748,998.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Charlie B. Kawwas sold 3,000 shares of the company’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $500.83, for a total transaction of $1,502,490.00. The disclosure for this sale can be found here. Insiders sold a total of 17,264 shares of company stock valued at $8,652,754 in the last ninety days. 2.40% of the stock is owned by corporate insiders.

AVGO stock opened at $501.87 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.41 and a quick ratio of 2.23. Broadcom Inc. has a one year low of $343.48 and a one year high of $507.85. The stock has a market cap of $206.58 billion, a PE ratio of 37.23, a P/E/G ratio of 1.36 and a beta of 0.93. The firm has a 50 day simple moving average of $484.42 and a two-hundred day simple moving average of $470.98.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 EPS for the quarter, topping the Zacks’ consensus estimate of $6.88 by $0.08. Broadcom had a net margin of 22.90% and a return on equity of 44.27%. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the previous year, the company earned $5.40 EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 24.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 22nd will be paid a $3.60 dividend. The ex-dividend date is Tuesday, September 21st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.87%. Broadcom’s dividend payout ratio (DPR) is 78.05%.

AVGO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $525.00 to $560.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Truist Securities lifted their price objective on shares of Broadcom from $554.00 to $564.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $590.00 price objective on shares of Broadcom in a research report on Friday, September 3rd. Truist lifted their price objective on shares of Broadcom from $554.00 to $564.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Finally, KeyCorp lifted their price objective on shares of Broadcom from $565.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, September 3rd. Five equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Buy” and an average price target of $549.52.

Broadcom Company Profile

Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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