Cypress Wealth Services LLC Acquires 4,747 Shares of Broadcom Inc. $AVGO

Cypress Wealth Services LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 58.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,910 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,747 shares during the quarter. Cypress Wealth Services LLC’s holdings in Broadcom were worth $4,468,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Broadcom by 21.8% in 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 lifted its stake in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares during the last quarter. United Bank boosted its holdings in shares of 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 period. Sivia Capital Partners LLC boosted its holdings in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after buying an additional 1,160 shares during the period. Finally, Capital & Planning LLC grew its stake in Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. Citigroup increased their price target on shares of Broadcom from $458.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Truist Financial upped their target price on Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Sanford C. Bernstein reiterated an “outperform” rating and set a $475.00 target price (up from $400.00) on shares of Broadcom in a research note on Friday, December 12th. KeyCorp reissued an “overweight” rating and set a $500.00 price target (up from $460.00) on shares of Broadcom in a report on Friday, December 12th. Finally, Susquehanna restated a “positive” rating and issued a $450.00 price target (up from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $435.30.

Get Our Latest Report on AVGO

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $313.49 on Thursday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company’s 50 day moving average price is $325.06 and its two-hundred day moving average price is $343.71. The firm has a market cap of $1.48 trillion, a PE ratio of 61.23, a PEG ratio of 0.66 and a beta of 1.24. 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:AVGOGet Free Report) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, March 23rd. Broadcom’s dividend payout ratio is presently 50.78%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the sale, the insider directly owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 70,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total value of $24,311,000.00. Following the completion of the transaction, the chief executive officer owned 132,836 shares in the company, valued at $46,133,942.80. The trade was a 34.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 373,049 shares of company stock worth $123,024,715. 1.90% of the stock is owned by insiders.

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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