Cetera Investment Advisers Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Cetera Investment Advisers grew its position in Broadcom Inc. (NASDAQ:AVGO) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,316 shares of the semiconductor manufacturer’s stock after acquiring an additional 375 shares during the quarter. Cetera Investment Advisers’ holdings in Broadcom were worth $165,878,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AVGO. Aveo Capital Partners LLC boosted its holdings in shares of Broadcom by 15.9% during the 4th quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after purchasing an additional 63 shares during the last quarter. J. W. Coons Advisors LLC lifted its position in Broadcom by 5.1% during the fourth quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $1,574,000 after buying an additional 69 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in Broadcom by 39.7% during the fourth quarter. CWA Asset Management Group LLC now owns 1,862 shares of the semiconductor manufacturer’s stock worth $2,078,000 after buying an additional 529 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Broadcom by 39.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 93,613 shares of the semiconductor manufacturer’s stock valued at $104,496,000 after buying an additional 26,655 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in shares of Broadcom by 6.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 194,062 shares of the semiconductor manufacturer’s stock worth $216,622,000 after acquiring an additional 11,525 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AVGO shares. Benchmark reissued a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Oppenheimer cut their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Sanford C. Bernstein raised their target price on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Finally, Wells Fargo & Company upped their price target on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.23.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was 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 owns 1,331,910 shares in the company, valued at $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 ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $172.50 on Tuesday. Broadcom Inc. has a 1 year low of $80.89 and a 1 year high of $185.16. The stock has a market capitalization of $802.97 billion, a PE ratio of 7.42, a PEG ratio of 2.78 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a 50-day simple moving average of $158.23 and a 200-day simple moving average of $148.55.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. On average, analysts predict 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 was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

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.