Unique Wealth LLC Acquires 3,526 Shares of Broadcom Inc. $AVGO

Unique Wealth LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 302.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,691 shares of the semiconductor manufacturer’s stock after buying an additional 3,526 shares during the period. Unique Wealth LLC’s holdings in Broadcom were worth $1,548,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Arthur M. Cohen & Associates LLC boosted its stake in Broadcom by 0.6% during the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after acquiring an additional 30 shares in the last quarter. McHugh Group LLC increased its stake in Broadcom by 0.4% in the third quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock valued at $2,782,000 after purchasing an additional 31 shares in the last quarter. Redwood Financial Network Corp raised its holdings in shares of Broadcom by 1.7% during the second quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer’s stock valued at $535,000 after purchasing an additional 33 shares during the period. BancFirst Trust & Investment Management raised its holdings in shares of Broadcom by 2.9% during the third quarter. BancFirst Trust & Investment Management now owns 1,235 shares of the semiconductor manufacturer’s stock valued at $405,000 after purchasing an additional 35 shares during the period. Finally, Heritage Oak Wealth Advisors LLC boosted its position in shares of Broadcom by 4.4% during the 3rd quarter. Heritage Oak Wealth Advisors LLC now owns 837 shares of the semiconductor manufacturer’s stock worth $276,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Citigroup reiterated a “buy” rating and issued a $480.00 price target (up previously from $415.00) on shares of Broadcom in a report on Friday, December 12th. Robert W. Baird set a $420.00 price objective on Broadcom in a report on Friday, December 12th. Piper Sandler reiterated an “overweight” rating and issued a $430.00 target price (up from $375.00) on shares of Broadcom in a report on Friday, December 12th. Finally, Susquehanna reissued a “positive” rating and issued a $450.00 price target (up previously from $400.00) on shares of Broadcom in a research report on Thursday, December 4th. Three 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 company. According to data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and a consensus price target of $436.89.

Broadcom Trading Down 0.1%

Shares of Broadcom stock opened at $343.50 on Thursday. The stock has a fifty day simple moving average of $361.10 and a 200 day simple moving average of $329.81. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a market capitalization of $1.63 trillion, a P/E ratio of 72.16, a price-to-earnings-growth ratio of 1.16 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 for the quarter, beating the consensus estimate of $1.87 by $0.08. The business 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%.The business’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the business earned $1.42 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the sale, the director directly owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. This represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the completion of the sale, the insider owned 23,582 shares of the company’s stock, valued at approximately $7,730,179.60. This trade represents a 7.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 680,701 shares of company stock valued at $249,624,757 in the last quarter. 2.00% of the stock is owned by company insiders.

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.