Evolution Wealth Advisors LLC raised its position in Broadcom Inc (NASDAQ:AVGO) by 380.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269 shares of the semiconductor manufacturer’s stock after acquiring an additional 213 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Broadcom were worth $98,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Institute for Wealth Management LLC. increased its stake in Broadcom by 144.2% in the 2nd quarter. Institute for Wealth Management LLC. now owns 2,112 shares of the semiconductor manufacturer’s stock worth $667,000 after purchasing an additional 1,247 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in Broadcom by 5.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,605 shares of the semiconductor manufacturer’s stock worth $949,000 after buying an additional 140 shares during the period. Blair William & Co. IL increased its position in Broadcom by 3.3% in the 2nd quarter. Blair William & Co. IL now owns 13,016 shares of the semiconductor manufacturer’s stock worth $4,108,000 after buying an additional 414 shares during the period. GWM Advisors LLC increased its position in Broadcom by 70.6% in the 2nd quarter. GWM Advisors LLC now owns 19,418 shares of the semiconductor manufacturer’s stock worth $6,128,000 after buying an additional 8,039 shares during the period. Finally, Advisor Group Holdings Inc. bought a new position in Broadcom in the 1st quarter worth approximately $16,803,000. 81.82% of the stock is owned by institutional investors.

Several research analysts have commented on the company. Raymond James reaffirmed a “hold” rating on shares of Broadcom in a research report on Friday, September 4th. UBS Group boosted their price objective on Broadcom from $335.00 to $425.00 and gave the company a “buy” rating in a research report on Friday, September 4th. Piper Sandler boosted their price objective on Broadcom from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. BidaskClub upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 2nd. Finally, Citigroup upped their price target on Broadcom from $360.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, September 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $382.48.

In related news, CEO Hock E. Tan sold 57,171 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $315.18, for a total transaction of $18,019,155.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Charlie B. Kawwas sold 4,586 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $354.01, for a total value of $1,623,489.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 712,112 shares of company stock worth $246,515,630. Corporate insiders own 3.30% of the company’s stock.

Broadcom stock opened at $378.65 on Friday. The stock’s fifty day moving average price is $361.89 and its two-hundred day moving average price is $310.85. Broadcom Inc has a one year low of $155.67 and a one year high of $387.80. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.04 and a quick ratio of 1.88. The firm has a market cap of $153.16 billion, a PE ratio of 71.04, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 EPS for the quarter, topping the Zacks’ consensus estimate of $5.24 by $0.16. Broadcom had a return on equity of 32.44% and a net margin of 10.70%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the company earned $5.16 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc will post 18.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were paid a $3.25 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $13.00 annualized dividend and a dividend yield of 3.43%. Broadcom’s payout ratio is 74.67%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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