Broadcom Inc. $AVGO Shares Bought by Cypress Wealth Services LLC

Cypress Wealth Services LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 29.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,163 shares of the semiconductor manufacturer’s stock after buying an additional 1,861 shares during the period. Cypress Wealth Services LLC’s holdings in Broadcom were worth $2,693,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. United Bank grew its stake in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares during the last quarter. AlphaQuest LLC increased its position in Broadcom by 633.3% in the first quarter. AlphaQuest LLC now owns 704 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 608 shares during the period. Finally, Situational Awareness LP acquired a new stake in Broadcom in the first quarter worth $117,201,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.5%

Shares of NASDAQ:AVGO opened at $352.13 on Friday. The company has a 50 day moving average of $362.74 and a 200-day moving average of $323.95. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.67 trillion, a P/E ratio of 73.98, a P/E/G ratio of 1.20 and a beta of 1.19. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter last year, the business earned $1.42 earnings per share. As a group, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. Broadcom’s payout ratio is currently 54.62%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AVGO shares. Benchmark upped their price target on shares of Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Wells Fargo & Company boosted their target price on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Sanford C. Bernstein restated an “outperform” rating and issued a $475.00 price target (up previously from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Cowen reaffirmed a “buy” rating on shares of Broadcom in a report on Friday, December 12th. Finally, Truist Financial boosted their price objective on Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Broadcom has a consensus rating of “Buy” and an average price target of $436.33.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 320,316 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the transaction, the director owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 38,281 shares of Broadcom stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the completion of the transaction, the insider directly owned 266,494 shares in the company, valued at $87,316,759.10. This represents a 12.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 524,780 shares of company stock valued at $195,499,150. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.