Broadcom Inc. $AVGO Shares Acquired by Waldron Private Wealth LLC

Waldron Private Wealth LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 27.7% in the third quarter, HoldingsChannel reports. The firm owned 10,176 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,209 shares during the period. Waldron Private Wealth LLC’s holdings in Broadcom were worth $3,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JCIC Asset Management Inc. bought a new stake in shares of Broadcom in the third quarter worth $31,000. Longfellow Investment Management Co. LLC acquired a new position in Broadcom during the 2nd quarter worth $27,000. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom in the 2nd quarter worth about $28,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Broadcom in the 2nd quarter valued at about $28,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Broadcom during the third quarter worth about $34,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 130,000 shares of Broadcom stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the sale, the chief executive officer directly owned 595,638 shares in the company, valued at $194,189,900.76. The trade was a 17.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the transaction, the chief financial officer directly owned 277,237 shares in the company, valued at approximately $96,428,573.34. The trade was a 9.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 779,901 shares of company stock valued at $284,069,237 over the last three months. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AVGO has been the topic of several research reports. Oppenheimer upped their price objective on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Broadcom in a research note on Monday, December 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 target price on shares of Broadcom in a research note on Monday, January 5th. KeyCorp reaffirmed an “overweight” rating and issued a $500.00 price target (up from $460.00) on shares of Broadcom in a report on Friday, December 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $438.61.

Broadcom Price Performance

NASDAQ AVGO opened at $324.85 on Tuesday. The company has a 50-day moving average price of $356.84 and a two-hundred day moving average price of $336.51. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The stock has a market cap of $1.54 trillion, a price-to-earnings ratio of 68.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The business’s revenue was up 28.2% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is currently 54.62%.

Broadcom Profile

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.