IFP Advisors Inc Has $22.53 Million Holdings in Broadcom Inc. $AVGO

IFP Advisors Inc raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,096 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,022 shares during the period. IFP Advisors Inc’s holdings in Broadcom were worth $22,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Providence First Trust Co raised its position in shares of Broadcom by 1,099.3% in the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock valued at $2,944,000 after acquiring an additional 8,179 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Broadcom by 3.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer’s stock valued at $109,492,000 after acquiring an additional 10,786 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after acquiring an additional 7,499 shares during the period. Dana Investment Advisors Inc. raised its position in shares of Broadcom by 2.6% in the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after acquiring an additional 4,442 shares during the period. Finally, Guinness Atkinson Asset Management Inc raised its position in shares of Broadcom by 248.2% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer’s stock valued at $8,603,000 after acquiring an additional 18,703 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO opened at $414.14 on Tuesday. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. Broadcom Inc. has a twelve month low of $226.18 and a twelve month high of $442.36. The company has a 50 day moving average of $374.86 and a 200-day moving average of $356.49. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the business earned $1.60 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Erste Group Bank cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Wolfe Research raised Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price for the company in a research note on Friday, January 30th. TD Cowen reissued a “buy” rating and set a $500.00 target price (up from $405.00) on shares of Broadcom in a research note on Friday, May 15th. DA Davidson raised Broadcom to a “hold” rating in a research note on Friday, February 13th. Finally, Benchmark reissued a “buy” rating and set a $485.00 target price on shares of Broadcom in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $448.10.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock valued at $106,425,249 over the last quarter. Insiders own 1.90% of the company’s stock.

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.