Broadcom Inc. $AVGO Shares Purchased by Peachtree Investment Partners LLC

Peachtree Investment Partners LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 89.3% during the third quarter, HoldingsChannel reports. The firm owned 7,010 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,306 shares during the period. Broadcom comprises 0.8% of Peachtree Investment Partners LLC’s holdings, making the stock its 22nd biggest position. Peachtree Investment Partners LLC’s holdings in Broadcom were worth $2,313,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AVGO. Longfellow Investment Management Co. LLC purchased a new stake in Broadcom during the 2nd quarter valued at about $27,000. Teachers Insurance & Annuity Association of America purchased a new position in Broadcom in the 2nd quarter worth approximately $28,000. LGT Financial Advisors LLC acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $31,000. New England Capital Financial Advisors LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $31,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Broadcom in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 130,000 shares of Broadcom stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $326.02, for a total value of $42,382,600.00. Following the completion of the transaction, the chief executive officer directly owned 595,638 shares in the company, valued at approximately $194,189,900.76. This trade represents a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. The trade was a 9.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 779,901 shares of company stock worth $284,069,237. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 0.8%

Shares of AVGO stock opened at $330.73 on Friday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The company has a 50-day moving average of $355.94 and a two-hundred day moving average of $336.85. The firm has a market cap of $1.57 trillion, a PE ratio of 69.48, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $430.00 price objective (up previously from $375.00) on shares of Broadcom in a research report on Friday, December 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 price target on shares of Broadcom in a report on Monday, January 5th. Wells Fargo & Company raised shares of Broadcom from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $410.00 to $430.00 in a report on Thursday, January 15th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, Barclays reiterated an “overweight” rating and issued a $500.00 target price (up from $450.00) on shares of Broadcom in a report on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $438.61.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.