Commonwealth Equity Services LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Commonwealth Equity Services LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,977 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,678 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Broadcom were worth $78,917,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AVGO. Kozak & Associates Inc. increased its stake in Broadcom by 4.3% during the 2nd quarter. Kozak & Associates Inc. now owns 292 shares of the semiconductor manufacturer’s stock valued at $256,000 after purchasing an additional 12 shares in the last quarter. Howard Financial Services LTD. raised its stake in Broadcom by 1.2% in the 2nd quarter. Howard Financial Services LTD. now owns 1,044 shares of the semiconductor manufacturer’s stock worth $905,000 after acquiring an additional 12 shares during the last quarter. Vanguard Capital Wealth Advisors lifted its position in Broadcom by 0.4% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 2,758 shares of the semiconductor manufacturer’s stock worth $2,393,000 after acquiring an additional 12 shares during the period. Castle Wealth Management LLC increased its holdings in shares of Broadcom by 1.7% in the second quarter. Castle Wealth Management LLC now owns 738 shares of the semiconductor manufacturer’s stock valued at $640,000 after purchasing an additional 12 shares during the period. Finally, Gradient Capital Advisors LLC raised its stake in shares of Broadcom by 1.2% in the second quarter. Gradient Capital Advisors LLC now owns 975 shares of the semiconductor manufacturer’s stock worth $846,000 after purchasing an additional 12 shares during the last quarter. 78.81% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $18.18 during trading on Friday, reaching $977.73. The stock had a trading volume of 1,979,461 shares, compared to its average volume of 2,423,349. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.25 and a current ratio of 2.50. Broadcom Inc. has a 1-year low of $511.00 and a 1-year high of $983.89. The stock has a market cap of $403.55 billion, a PE ratio of 30.07, a PEG ratio of 1.90 and a beta of 1.11. The business has a fifty day moving average price of $868.63 and a 200-day moving average price of $837.20.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.43 by $0.11. The company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.07 EPS. On average, equities analysts forecast that Broadcom Inc. will post 37.83 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders 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 yield of 1.88%. Broadcom’s payout ratio is 56.58%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $1,000.00 target price on shares of Broadcom in a research report on Wednesday, September 20th. BMO Capital Markets boosted their target price on shares of Broadcom from $890.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Friday, September 1st. Benchmark reiterated a “buy” rating and set a $950.00 price objective on shares of Broadcom in a research note on Friday, September 1st. Mizuho upped their target price on Broadcom from $840.00 to $960.00 in a research note on Friday, September 1st. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $848.52.

Insiders Place Their Bets

In related news, Director Check Kian Low purchased 11,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now owns 15,951 shares in the company, valued at $13,909,750.53. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $858.96 per share, for a total transaction of $858,960.00. Following the acquisition, the director now directly owns 3,510 shares of the company’s stock, valued at approximately $3,014,949.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low purchased 11,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price 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 in the company, valued at $13,909,750.53. The disclosure for this purchase can be found here. Corporate insiders own 2.20% of the company’s stock.

Broadcom 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.