Allium Financial Advisors LLC Buys 2,077 Shares of Broadcom Inc. $AVGO

Allium Financial Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 55.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,811 shares of the semiconductor manufacturer’s stock after buying an additional 2,077 shares during the quarter. Broadcom comprises about 1.2% of Allium Financial Advisors LLC’s portfolio, making the stock its 17th largest holding. Allium Financial Advisors LLC’s holdings in Broadcom were worth $1,602,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Assetmark Inc. increased its position in shares of Broadcom by 2.4% in the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after purchasing an additional 39,466 shares during the period. Capital Counsel LLC NY bought a new stake in Broadcom during the second quarter worth about $221,000. Waterloo Capital L.P. grew its stake in Broadcom by 7.0% during the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after buying an additional 3,180 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after buying an additional 13,978 shares in the last quarter. Finally, RiverFront Investment Group LLC increased its holdings in Broadcom by 107.6% in the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after buying an additional 8,566 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 16,558 shares of the company’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 sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the sale, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at $278,088,746.66. This represents a 15.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AVGO. TD Cowen upped their price target on shares of Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Raymond James Financial set a $420.00 target price on Broadcom and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Argus raised their target price on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 8th. Finally, Evercore ISI lifted their price target on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $391.04.

Broadcom Stock Performance

Shares of Broadcom stock opened at $381.03 on Friday. The stock has a market cap of $1.80 trillion, a price-to-earnings ratio of 97.20, a P/E/G ratio of 1.30 and a beta of 1.19. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $403.00. The company’s fifty day moving average is $355.68 and its 200 day moving average is $310.46.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

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.