Valeo Financial Advisors LLC Raises Stock Holdings in Broadcom Inc. $AVGO

Valeo Financial Advisors LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,268 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,573 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Broadcom were worth $18,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after buying an additional 6,222,802 shares in the last quarter. State Street Corp raised its stake in shares of Broadcom by 0.5% during the 2nd quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after acquiring an additional 873,963 shares in the last quarter. Geode Capital Management LLC lifted its position in Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after acquiring an additional 2,226,585 shares during the last quarter. Norges Bank purchased a new stake in Broadcom during the second quarter valued at approximately $18,579,549,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 818,662 shares of company stock worth $297,135,938. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Susquehanna reaffirmed a “positive” rating and set a $450.00 price target (up from $400.00) on shares of Broadcom in a research report on Thursday, December 4th. JPMorgan Chase & Co. boosted their target price on Broadcom from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday. Oppenheimer upped their target price on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp reiterated an “overweight” rating and issued a $500.00 price target (up from $460.00) on shares of Broadcom in a research note on Friday. Finally, Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $435.96.

Broadcom Price Performance

NASDAQ AVGO opened at $339.81 on Tuesday. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 71.39, a PEG ratio of 1.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The stock’s fifty day moving average price is $363.26 and its 200 day moving average price is $319.19. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the previous year, the business earned $1.42 EPS. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current 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 paid a $0.65 dividend. The ex-dividend date is 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 dividend payout ratio (DPR) is currently 54.62%.

About Broadcom

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.