Benjamin Edwards Inc. Acquires 5,553 Shares of Broadcom Inc. $AVGO

Benjamin Edwards Inc. lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,305 shares of the semiconductor manufacturer’s stock after buying an additional 5,553 shares during the period. Broadcom makes up approximately 0.9% of Benjamin Edwards Inc.’s investment portfolio, making the stock its 17th biggest position. Benjamin Edwards Inc.’s holdings in Broadcom were worth $70,375,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the period. United Bank grew its stake in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Broadcom by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,241,379 shares of the semiconductor manufacturer’s stock valued at $1,714,546,000 after buying an additional 32,231 shares during the period. Finally, Liontrust Investment Partners LLP raised its position in shares of Broadcom by 24.8% in the 1st quarter. Liontrust Investment Partners LLP now owns 265,923 shares of the semiconductor manufacturer’s stock valued at $44,523,000 after buying an additional 52,802 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 11.4%

Shares of AVGO stock opened at $359.93 on Friday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The stock’s fifty day simple moving average is $363.17 and its 200 day simple moving average is $317.38. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.70 trillion, a P/E ratio of 75.62, a P/E/G ratio of 1.38 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 38.82% and a net margin of 36.20%.The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period last year, the firm posted $1.42 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be given a $0.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is currently 49.58%.

Analysts Set New Price Targets

Several analysts recently issued reports on AVGO shares. UBS Group reiterated a “buy” rating and set a $472.00 price target (up previously from $415.00) on shares of Broadcom in a research report on Monday, December 1st. Rosenblatt Securities raised their target price on Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday. Argus boosted their price target on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Piper Sandler restated an “overweight” rating and set a $430.00 price objective (up from $375.00) on shares of Broadcom in a research report on Friday. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $475.00 target price (up previously from $400.00) on shares of Broadcom in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $435.85.

Insider Activity

In related news, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 837,433 shares of company stock valued at $303,900,352. 2.00% of the stock is currently owned by company insiders.

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.