BSW Wealth Partners raised its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 6.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,506 shares of the semiconductor manufacturer’s stock after buying an additional 87 shares during the period. BSW Wealth Partners’ holdings in Broadcom were worth $966,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MRP Capital Investments LLC increased its holdings in Broadcom by 60.0% in the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 21 shares in the last quarter. VitalStone Financial LLC increased its holdings in Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 25 shares in the last quarter. Sageworth Trust Co purchased a new position in Broadcom in the first quarter valued at $39,000. Tucker Asset Management LLC purchased a new position in Broadcom in the first quarter valued at $43,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Broadcom in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.
Insider Buying and Selling at Broadcom
In other news, Director Check Kian Low acquired 11,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $872.03 per share, with a total value of $9,592,330.00. Following the transaction, the director now owns 15,951 shares in the company, valued at approximately $13,909,750.53. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.
Broadcom Stock Performance
Broadcom (NASDAQ:AVGO – Get Free Report) last released its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.43 by $0.11. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. During the same period in the prior year, the business earned $9.07 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 37.88 EPS for the current year.
Broadcom Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given a $4.60 dividend. This represents a $18.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Wednesday, September 20th. Broadcom’s dividend payout ratio is presently 56.58%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on AVGO shares. Piper Sandler boosted their target price on shares of Broadcom from $830.00 to $925.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Broadcom from $905.00 to $950.00 in a research note on Friday, September 1st. BMO Capital Markets boosted their target price on shares of Broadcom from $890.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. TD Cowen boosted their target price on shares of Broadcom from $800.00 to $900.00 and gave the stock a “market perform” rating in a research note on Friday, September 1st. Finally, Oppenheimer boosted their target price on shares of Broadcom from $900.00 to $990.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $846.14.
Broadcom Company 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.
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