Bar Harbor Wealth Management Purchases 24 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bar Harbor Wealth Management increased its position in Broadcom Inc. (NASDAQ:AVGOGet Rating) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 650 shares of the semiconductor manufacturer’s stock after buying an additional 24 shares during the period. Bar Harbor Wealth Management’s holdings in Broadcom were worth $316,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AVGO. Schubert & Co lifted its stake in Broadcom by 77.4% in the 2nd quarter. Schubert & Co now owns 55 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Cordant Inc. purchased a new stake in shares of Broadcom during the 1st quarter valued at about $31,000. Orion Capital Management LLC raised its position in shares of Broadcom by 70.0% during the 1st quarter. Orion Capital Management LLC now owns 51 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 21 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $32,000. Finally, Win Advisors Inc. raised its position in shares of Broadcom by 53.3% during the 2nd quarter. Win Advisors Inc. now owns 69 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 79.60% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $533.64 on Thursday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.05 and a current ratio of 2.32. The firm’s 50 day moving average price is $472.40 and its 200-day moving average price is $508.64. Broadcom Inc. has a 52-week low of $415.07 and a 52-week high of $677.76. The company has a market cap of $216.12 billion, a PE ratio of 23.08, a P/E/G ratio of 0.95 and a beta of 1.08.

Broadcom (NASDAQ:AVGOGet Rating) last released its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $9.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $0.23. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same period last year, the firm earned $6.32 earnings per share. The company’s quarterly revenue was up 24.9% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 34.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 22nd were given a dividend of $4.10 per share. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $16.40 dividend on an annualized basis and a yield of 3.07%. Broadcom’s payout ratio is 70.93%.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Susquehanna restated a “buy” rating and set a $680.00 target price on shares of Broadcom in a research report on Friday, September 2nd. Robert W. Baird restated an “outperform” rating and set a $700.00 target price on shares of Broadcom in a research report on Tuesday, September 6th. BMO Capital Markets decreased their target price on shares of Broadcom from $675.00 to $650.00 and set an “outperform” rating on the stock in a research report on Friday, September 2nd. StockNews.com upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 5th. Finally, Truist Financial cut their price target on shares of Broadcom from $658.00 to $630.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $675.13.

About Broadcom

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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