Invera Wealth Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO)

Invera Wealth Advisors LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 9.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 916 shares of the semiconductor maker’s stock after acquiring an additional 80 shares during the period. Broadcom comprises about 1.6% of Invera Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest position. Invera Wealth Advisors LLC’s holdings in Broadcom were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barry Investment Advisors LLC purchased a new stake in Broadcom in the fourth quarter valued at about $228,000. Vise Technologies Inc. raised its stake in Broadcom by 49.9% during the fourth quarter. Vise Technologies Inc. now owns 2,901 shares of the semiconductor maker’s stock worth $3,238,000 after acquiring an additional 966 shares during the period. Jump Financial LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $2,690,000. Barings LLC boosted its stake in Broadcom by 36.1% in the fourth quarter. Barings LLC now owns 494 shares of the semiconductor maker’s stock worth $551,000 after buying an additional 131 shares during the period. Finally, Capital International Ltd. CA raised its stake in Broadcom by 1.7% in the fourth quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor maker’s stock worth $87,367,000 after acquiring an additional 1,310 shares during the period. 76.43% of the shares are currently owned by hedge funds and other institutional investors.

Broadcom Insider Buying and Selling

In other news, Director Justine Page sold 2,540 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 2.00% of shares are owned by company insiders.

Broadcom price performance

Shares of NASDAQ AVGO opened at $148.21 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.94, and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $79.51 and a 12-month high of $185.16. The stock has a 50-day moving average of $188.66 and a two-hundred-day moving average of $156.32. The stock has a market cap of $689.90 billion, a P/E ratio of 6.37, a P/E/G ratio of 2.41 and a beta of 1.16.

Broadcom (NASDAQ:AVGO – Get Your Free Report ) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor maker reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. In the same quarter last year, the company earned $0.95 per share. The company’s revenue for the quarter was up 47.3% year over year. On average, research analysts expect that Broadcom Inc. will post 3.75 earnings per share for the current year.

Broadcom raises dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 19. This represents a dividend of $2.12 on an annualized basis and a yield of 1.43%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

Analyst upgrades and downgrades

A number of analysts have issued reports on AVGO shares. Goldman Sachs Group upped their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Melius assumed coverage on Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective for the company. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. TD Cowen boosted their price objective on Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Sanford C. Bernstein boosted their price objective on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th . Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Broadcom has an average rating of “Moderate Buy” and an average price target of $189.23, according to MarketBeat.

See our latest report on Broadcom

Broadcom Company Profile

(Free Report)

Broadcom Inc designs, develops and supplies various semiconductor devices with a focus on complex and mixed-signal complementary metal oxide semiconductor devices and III-V analog products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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