Great Valley Advisor Group Inc. Increases Stake in Broadcom Inc. $AVGO

Great Valley Advisor Group Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the second quarter, HoldingsChannel reports. The fund owned 89,325 shares of the semiconductor manufacturer’s stock after buying an additional 1,552 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Broadcom were worth $24,622,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elevatus Welath Management grew its holdings in Broadcom by 12.4% during the 2nd quarter. Elevatus Welath Management now owns 7,856 shares of the semiconductor manufacturer’s stock valued at $2,165,000 after buying an additional 865 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Broadcom by 2.1% during the second quarter. EP Wealth Advisors LLC now owns 898,247 shares of the semiconductor manufacturer’s stock valued at $247,602,000 after acquiring an additional 18,712 shares in the last quarter. Eventide Asset Management LLC increased its holdings in Broadcom by 61.4% during the 2nd quarter. Eventide Asset Management LLC now owns 50,971 shares of the semiconductor manufacturer’s stock worth $14,165,000 after acquiring an additional 19,384 shares during the period. Eaton Cambridge Inc. purchased a new stake in Broadcom in the 2nd quarter worth approximately $268,000. Finally, Curi Capital LLC lifted its stake in Broadcom by 46.4% in the 2nd quarter. Curi Capital LLC now owns 87,319 shares of the semiconductor manufacturer’s stock worth $24,070,000 after purchasing an additional 27,670 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. Cowen reaffirmed a “buy” rating on shares of Broadcom in a report on Friday. Raymond James Financial set a $420.00 target price on Broadcom and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Mizuho raised their price target on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Susquehanna reissued a “positive” rating and set a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $435.85.

Insider Buying and Selling

In related news, Director Henry Samueli sold 320,316 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the transaction, the director owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 837,433 shares of company stock worth $303,900,352 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

AVGO opened at $359.93 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.70 trillion, a P/E ratio of 75.62, a PEG ratio of 1.38 and a beta of 1.19. The stock has a 50-day moving average price of $363.17 and a 200-day moving average price of $317.38. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share 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 analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 38.82% and a net margin of 36.20%.Broadcom’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. Equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is presently 49.58%.

Broadcom Profile

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.