Valeo Financial Advisors LLC Acquires 5,573 Shares of Broadcom Inc. $AVGO

Valeo Financial Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,268 shares of the semiconductor manufacturer’s stock after buying an additional 5,573 shares during the period. Valeo Financial Advisors LLC’s holdings in Broadcom were worth $18,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AVGO. Assetmark Inc. increased its position 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 valued at $469,566,000 after purchasing an additional 39,466 shares during the last quarter. Capital Counsel LLC NY bought a new stake in Broadcom in the second quarter worth $221,000. Waterloo Capital L.P. boosted its stake in Broadcom by 7.0% during the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after buying an additional 3,180 shares during the period. Geneos Wealth Management Inc. increased 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 valued at $10,737,000 after acquiring an additional 13,978 shares during the last quarter. Finally, RiverFront Investment Group LLC raised its stake in shares of Broadcom by 107.6% in the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after acquiring an additional 8,566 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating on shares of Broadcom in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial set a $500.00 target price on Broadcom in a research note on Friday. Rosenblatt Securities increased their price target on Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, Morgan Stanley raised their price target on Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research note 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $435.96.

Broadcom Stock Performance

Broadcom stock opened at $339.81 on Tuesday. The company has a 50 day moving average price of $363.26 and a 200-day moving average price of $319.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company has a market capitalization of $1.60 trillion, a PE ratio of 71.39, a P/E/G ratio of 1.22 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.65 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, December 22nd. Broadcom’s payout ratio is 54.62%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares of the company’s stock, valued at $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $331.14, for a total transaction of $264,912.00. Following the transaction, the director directly owned 21,382 shares in the company, valued at $7,080,435.48. This trade represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 818,662 shares of company stock valued at $297,135,938 over the last three months. 2.00% of the stock is currently owned by corporate 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.