Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Collective Family Office LLC

Collective Family Office LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,910 shares of the semiconductor manufacturer’s stock after buying an additional 2,619 shares during the period. Collective Family Office LLC’s holdings in Broadcom were worth $502,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Inspirion Wealth Advisors LLC grew its stake in Broadcom by 936.7% during the 3rd quarter. Inspirion Wealth Advisors LLC now owns 1,752 shares of the semiconductor manufacturer’s stock worth $302,000 after buying an additional 1,583 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of Broadcom by 915.6% during the third quarter. Harbor Investment Advisory LLC now owns 24,790 shares of the semiconductor manufacturer’s stock valued at $4,276,000 after acquiring an additional 22,349 shares during the period. Mirador Capital Partners LP grew its position in shares of Broadcom by 1,060.6% during the third quarter. Mirador Capital Partners LP now owns 11,548 shares of the semiconductor manufacturer’s stock worth $1,992,000 after acquiring an additional 10,553 shares during the last quarter. Central Valley Advisors LLC grew its position in shares of Broadcom by 906.6% during the third quarter. Central Valley Advisors LLC now owns 22,508 shares of the semiconductor manufacturer’s stock worth $3,883,000 after acquiring an additional 20,272 shares during the last quarter. Finally, Eclectic Associates Inc. ADV bought a new stake in Broadcom in the 3rd quarter valued at about $266,000. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of Broadcom in a research report on Friday, September 6th. Piper Sandler boosted their price target on Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Finally, Rosenblatt Securities reduced their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $189.23.

Broadcom Stock Up 2.8 %

Shares of NASDAQ AVGO traded up $4.75 during mid-day trading on Friday, reaching $176.64. 17,941,387 shares of the company traded hands, compared to its average volume of 31,198,639. The company’s fifty day moving average is $159.64 and its two-hundred day moving average is $149.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $81.17 and a fifty-two week high of $185.16. The stock has a market cap of $822.24 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom 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 sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction 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 owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,452 shares of company stock worth $52,950,238 in the last 90 days. 2.00% of the stock is owned by company insiders.

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.