Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Operose Advisors LLC

Operose Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,135 shares of the semiconductor manufacturer’s stock after acquiring an additional 139 shares during the quarter. Broadcom comprises approximately 0.7% of Operose Advisors LLC’s portfolio, making the stock its 22nd biggest position. Operose Advisors LLC’s holdings in Broadcom were worth $2,032,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Maia Wealth LLC raised its stake in shares of Broadcom by 5.9% during the first quarter. Maia Wealth LLC now owns 3,389 shares of the semiconductor manufacturer’s stock worth $605,000 after purchasing an additional 190 shares during the last quarter. Cove Private Wealth LLC raised its stake in shares of Broadcom by 0.6% during the first quarter. Cove Private Wealth LLC now owns 23,640 shares of the semiconductor manufacturer’s stock worth $3,958,000 after purchasing an additional 140 shares during the last quarter. First American Trust FSB raised its position in Broadcom by 217.3% in the first quarter. First American Trust FSB now owns 40,790 shares of the semiconductor manufacturer’s stock worth $6,829,000 after acquiring an additional 27,933 shares in the last quarter. SouthState Corp raised its position in Broadcom by 0.6% in the first quarter. SouthState Corp now owns 236,213 shares of the semiconductor manufacturer’s stock worth $39,549,000 after acquiring an additional 1,389 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. raised its position in Broadcom by 93.4% in the first quarter. Lockheed Martin Investment Management Co. now owns 335,230 shares of the semiconductor manufacturer’s stock worth $56,128,000 after acquiring an additional 161,890 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. Truist Financial set a $295.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Friday, June 6th. Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. HSBC upgraded Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. Arete Research upgraded Broadcom to a “strong-buy” rating in a research report on Monday, July 28th. Finally, Barclays increased their price objective on Broadcom from $215.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $294.92.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,224,641 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 0.4%

Shares of NASDAQ:AVGO opened at $304.97 on Monday. The stock’s 50-day moving average price is $272.87 and its two-hundred day moving average price is $226.63. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $310.34. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 114.22, a PEG ratio of 2.17 and a beta of 1.15.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the company earned $10.96 EPS. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

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.