Broadcom Inc. $AVGO Shares Acquired by Shepherd Financial Partners LLC

Shepherd Financial Partners LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,189 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,669 shares during the period. Broadcom accounts for about 1.0% of Shepherd Financial Partners LLC’s holdings, making the stock its 29th biggest position. Shepherd Financial Partners LLC’s holdings in Broadcom were worth $9,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of AVGO. Assetmark Inc. boosted its stake in shares of Broadcom by 2.4% during the 2nd quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after purchasing an additional 39,466 shares during the last quarter. Capital Counsel LLC NY purchased a new position in shares of Broadcom during the second quarter valued at approximately $221,000. Waterloo Capital L.P. lifted its stake in shares of Broadcom by 7.0% during the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after buying an additional 3,180 shares during the period. Geneos Wealth Management Inc. boosted its position in Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after acquiring an additional 13,978 shares during the last quarter. Finally, RiverFront Investment Group LLC grew its stake in Broadcom by 107.6% in the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after acquiring an additional 8,566 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several analyst reports. Raymond James Financial set a $420.00 price objective on Broadcom and gave the stock an “outperform” rating in a report on Thursday, November 20th. Benchmark increased their target price on Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Barclays set a $450.00 price target on Broadcom and gave the company an “overweight” rating in a report on Tuesday, October 14th. Bank of America upped their price objective on shares of Broadcom from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Citigroup reissued a “buy” rating and issued a $415.00 target price (up from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $391.04.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $331.14, for a total value of $264,912.00. Following the completion of the sale, the director owned 21,382 shares of the company’s stock, valued at $7,080,435.48. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 2.4%

Shares of Broadcom stock opened at $390.24 on Friday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $403.00. The stock has a market cap of $1.84 trillion, a price-to-earnings ratio of 99.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average price of $356.79 and a 200 day moving average price of $311.56.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the company posted $1.24 earnings per share. The firm’s revenue was up 22.0% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

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.