Broadcom Inc. (NASDAQ:AVGO) Holdings Raised by Private Advisor Group LLC

Private Advisor Group LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,707 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,367 shares during the period. Private Advisor Group LLC’s holdings in Broadcom were worth $25,063,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Broadcom by 96,355.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 236,738,760 shares of the semiconductor manufacturer’s stock worth $205,354,303,000 after purchasing an additional 236,493,322 shares during the last quarter. BlackRock Inc. raised its holdings in Broadcom by 1.7% during the first quarter. BlackRock Inc. now owns 29,844,893 shares of the semiconductor manufacturer’s stock valued at $19,146,692,000 after buying an additional 499,945 shares in the last quarter. State Street Corp raised its holdings in Broadcom by 5.0% during the first quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock valued at $10,670,149,000 after buying an additional 794,832 shares in the last quarter. Geode Capital Management LLC raised its holdings in Broadcom by 5.0% during the first quarter. Geode Capital Management LLC now owns 7,813,688 shares of the semiconductor manufacturer’s stock valued at $5,001,948,000 after buying an additional 375,418 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Broadcom by 12.5% in the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after buying an additional 651,014 shares during the last quarter. 78.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVGO shares. Mizuho raised their price objective on Broadcom from $840.00 to $960.00 in a research note on Friday, September 1st. Oppenheimer lifted their price target on shares of Broadcom from $900.00 to $990.00 and gave the company an “outperform” rating in a research report on Friday, September 1st. Evercore ISI upped their price objective on shares of Broadcom from $1,000.00 to $1,050.00 in a report on Thursday, October 5th. TD Cowen lifted their target price on shares of Broadcom from $800.00 to $900.00 and gave the stock a “market perform” rating in a report on Friday, September 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $905.00 to $950.00 in a report on Friday, September 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $848.52.

Broadcom Stock Performance

AVGO traded down $11.14 during trading on Thursday, reaching $964.26. 358,397 shares of the company’s stock were exchanged, compared to its average volume of 2,414,533. The company has a market capitalization of $397.99 billion, a P/E ratio of 29.68, a PEG ratio of 1.84 and a beta of 1.11. The company has a quick ratio of 2.25, a current ratio of 2.50 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average price of $864.17 and a 200 day moving average price of $833.97. Broadcom Inc. has a fifty-two week low of $503.14 and a fifty-two week high of $981.75.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, beating the consensus estimate of $10.43 by $0.11. The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $9.07 EPS. As a group, analysts predict that Broadcom Inc. will post 37.83 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 21st were issued a $4.60 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $18.40 dividend on an annualized basis and a dividend yield of 1.91%. Broadcom’s payout ratio is presently 56.58%.

Insider Buying and Selling

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

About Broadcom

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.