Emerald Advisers LLC Has $2.03 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Emerald Advisers LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,267 shares of the semiconductor manufacturer’s stock after selling 88 shares during the period. Emerald Advisers LLC’s holdings in Broadcom were worth $2,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Legend Financial Advisors Inc. lifted its stake in Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC bought a new position in Broadcom in the 1st quarter valued at approximately $29,000. Delta Asset Management LLC TN lifted its stake in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Broadcom in the 1st quarter valued at approximately $36,000. Finally, Ulland Investment Advisors LLC bought a new position in Broadcom in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 5.2 %

NASDAQ:AVGO opened at $148.21 on Wednesday. The stock has a market capitalization of $689.90 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 2.41 and a beta of 1.16. The firm has a fifty day simple moving average of $188.66 and a two-hundred day simple moving average of $156.32. Broadcom Inc. has a 12 month low of $79.51 and a 12 month high of $185.16. 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 (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue was up 47.3% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. Analysts expect that Broadcom Inc. will post 3.75 EPS for the current fiscal year.

Broadcom Increases Dividend

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

Insider Activity

In other news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated 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 transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the transaction, the director now directly owns 27,480 shares in the company, valued at $4,809,714.48. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVGO. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Piper Sandler increased their price objective on shares of Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Mizuho raised their price target on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. TD Cowen raised their price target on shares of Broadcom from $175.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Citigroup reaffirmed a “buy” rating and set a $156.00 price target on shares of Broadcom in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $189.23.

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.