Broadcom Inc. (NASDAQ:AVGO) is Copperwynd Financial LLC’s 2nd Largest Position

Copperwynd Financial LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 951.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,186 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,837 shares during the quarter. Broadcom makes up 7.0% of Copperwynd Financial LLC’s portfolio, making the stock its 2nd biggest holding. Copperwynd Financial LLC’s holdings in Broadcom were worth $22,776,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lion Street Advisors LLC raised its position in shares of Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after buying an additional 6 shares in the last quarter. Tucker Asset Management LLC raised its holdings in Broadcom by 12.5% during the fourth quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock worth $80,000 after purchasing an additional 8 shares in the last quarter. Buckley Wealth Management LLC raised its holdings in Broadcom by 0.7% during the first quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after purchasing an additional 8 shares in the last quarter. Legend Financial Advisors Inc. boosted its stake in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its stake in Broadcom by 0.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 3.0 %

NASDAQ AVGO opened at $172.69 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1-year low of $80.89 and a 1-year high of $185.16. The firm’s fifty day simple moving average is $158.00 and its 200-day simple moving average is $148.25. The company has a market capitalization of $803.85 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.23%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s dividend payout ratio is presently 9.12%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Sanford C. Bernstein boosted their target price on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. UBS Group reduced their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, Melius Research started coverage on Broadcom in a report on Monday, June 3rd. They issued a “buy” rating and a $185.00 price target on the stock. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The disclosure for this sale can be found here. Insiders have sold a total of 233,452 shares of company stock worth $51,278,838 over the last three months. Corporate insiders own 2.00% of the company’s stock.

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.