Personal CFO Solutions LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,045 shares of the semiconductor manufacturer’s stock after selling 63 shares during the quarter. Personal CFO Solutions LLC’s holdings in Broadcom were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Broadcom during the second quarter valued at $30,000. MRP Capital Investments LLC lifted its holdings in shares of Broadcom by 60.0% during the 1st quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 21 shares during the last quarter. Sageworth Trust Co bought a new stake in shares of Broadcom in the 1st quarter valued at approximately $39,000. VitalStone Financial LLC increased its holdings in Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Broadcom during the second quarter valued at approximately $42,000. 78.81% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of Broadcom from $890.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. Truist Financial restated a “buy” rating and set a $995.00 target price on shares of Broadcom in a report on Thursday, September 21st. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Wells Fargo & Company increased their price objective on Broadcom from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Friday, September 1st. Finally, Mizuho boosted their target price on Broadcom from $840.00 to $960.00 in a report on Friday, September 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $848.52.
Insider Buying and Selling at Broadcom
In other Broadcom news, Director Check Kian Low bought 11,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the transaction, the director now owns 15,951 shares in the company, valued at $13,909,750.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Check Kian Low bought 11,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 1,500 shares of the business’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 completion of the sale, the director now directly owns 9,123 shares in the company, 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.
Broadcom Stock Performance
NASDAQ:AVGO opened at $977.73 on Friday. The firm’s 50-day moving average is $868.63 and its 200-day moving average is $838.77. The company has a market cap of $403.55 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 1.90 and a beta of 1.11. 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 52-week low of $511.00 and a 52-week high of $983.89.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.43 by $0.11. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period in the previous year, the company posted $9.07 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 37.83 earnings per share for the current year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 21st were issued a $4.60 dividend. This represents a $18.40 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Wednesday, September 20th. Broadcom’s dividend payout ratio (DPR) is presently 56.58%.
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.
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