Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Evergreen Capital Management LLC

Evergreen Capital Management LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,093 shares of the semiconductor manufacturer’s stock after purchasing an additional 123 shares during the quarter. Evergreen Capital Management LLC’s holdings in Broadcom were worth $9,783,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Public Sector Pension Investment Board boosted its holdings in shares of Broadcom by 36.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 242,040 shares of the semiconductor manufacturer’s stock valued at $388,602,000 after buying an additional 64,876 shares during the period. Beck Capital Management LLC lifted its holdings in Broadcom by 1.7% in the second quarter. Beck Capital Management LLC now owns 4,340 shares of the semiconductor manufacturer’s stock worth $6,968,000 after acquiring an additional 72 shares during the last quarter. Harmony Asset Management LLC boosted its stake in Broadcom by 9.5% in the second quarter. Harmony Asset Management LLC now owns 944 shares of the semiconductor manufacturer’s stock valued at $1,515,000 after acquiring an additional 82 shares during the period. Estabrook Capital Management grew its holdings in shares of Broadcom by 900.0% during the second quarter. Estabrook Capital Management now owns 250 shares of the semiconductor manufacturer’s stock valued at $401,000 after purchasing an additional 225 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Broadcom by 903.9% during the second quarter. EverSource Wealth Advisors LLC now owns 81,225 shares of the semiconductor manufacturer’s stock valued at $130,409,000 after purchasing an additional 73,134 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $171.10 on Monday. The firm has a market cap of $796.45 billion, a PE ratio of 7.36, a P/E/G ratio of 2.55 and a beta of 1.16. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $156.81 and a 200-day simple moving average of $146.91. Broadcom Inc. has a fifty-two week low of $79.51 and a fifty-two week high of $185.16.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. As a group, equities analysts predict that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Evercore ISI boosted their price target on shares of Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Citigroup reissued a “buy” rating and set a $156.00 target price on shares of Broadcom in a research note on Tuesday, June 11th. Finally, Mizuho raised their price target on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

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.