Green Alpha Advisors LLC Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Green Alpha Advisors LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,429 shares of the semiconductor manufacturer’s stock after acquiring an additional 95 shares during the quarter. Broadcom accounts for about 1.4% of Green Alpha Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Green Alpha Advisors LLC’s holdings in Broadcom were worth $2,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Broadcom by 756.5% during the first quarter. Envestnet Asset Management Inc. now owns 5,207,035 shares of the semiconductor manufacturer’s stock worth $404,363,000 after buying an additional 4,599,078 shares during the period. Norges Bank acquired a new stake in Broadcom during the 4th quarter valued at $2,222,676,000. Moneta Group Investment Advisors LLC raised its stake in Broadcom by 122,794.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after purchasing an additional 3,664,177 shares during the period. Providence Capital Advisors LLC grew its holdings in shares of Broadcom by 49,919.1% during the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock valued at $3,799,000 after acquiring an additional 2,432,559 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Broadcom by 33.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,552,519 shares of the semiconductor manufacturer’s stock valued at $2,545,450,000 after acquiring an additional 1,132,038 shares in the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Check Kian Low acquired 11,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the completion of the purchase, the director now owns 15,951 shares in the company, valued at approximately $13,909,750.53. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Check Kian Low acquired 11,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the acquisition, the director now owns 15,951 shares in the company, valued at $13,909,750.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 1,500 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the completion of the transaction, the director now owns 9,123 shares of the company’s stock, valued at approximately $7,806,368.64. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of Broadcom from $830.00 to $925.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 29th. Susquehanna increased their price target on shares of Broadcom from $910.00 to $1,010.00 and gave the company a “positive” rating in a research note on Thursday, August 24th. Evercore ISI reissued an “outperform” rating and set a $1,000.00 price target on shares of Broadcom in a research note on Friday, September 1st. StockNews.com raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Finally, Bank of America increased their target price on shares of Broadcom from $950.00 to $1,050.00 in a report on Thursday, June 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $846.14.

Broadcom Stock Up 2.2 %

AVGO stock opened at $871.64 on Friday. Broadcom Inc. has a 1-year low of $415.07 and a 1-year high of $923.67. The company has a current ratio of 2.50, a quick ratio of 2.25 and a debt-to-equity ratio of 1.73. The company’s 50 day moving average is $874.48 and its 200 day moving average is $758.55. The stock has a market cap of $359.76 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating analysts’ consensus estimates of $10.43 by $0.11. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same period last year, the business earned $9.07 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 37.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, September 20th. Broadcom’s payout ratio is currently 56.58%.

Broadcom Company Profile

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.