Invera Wealth Advisors LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Invera Wealth Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 916 shares of the semiconductor manufacturer’s stock after acquiring an additional 80 shares during the quarter. Broadcom comprises approximately 1.6% of Invera Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Invera Wealth Advisors LLC’s holdings in Broadcom were worth $1,570,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Lion Street Advisors LLC increased its holdings in Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after purchasing an additional 6 shares during the last quarter. Horizon Family Wealth Inc. increased its holdings in Broadcom by 1.3% during the 4th quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 8 shares during the last quarter. Tucker Asset Management LLC grew its position in shares of Broadcom by 12.5% in the 4th quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock worth $80,000 after acquiring an additional 8 shares in the last quarter. Buckley Wealth Management LLC grew its position in shares of Broadcom by 0.7% in the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after acquiring an additional 8 shares in the last quarter. Finally, Legend Financial Advisors Inc. grew its position in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the transaction, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $148.21 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm’s 50 day moving average is $188.66 and its 200-day moving average is $156.32. Broadcom Inc. has a 12-month low of $79.51 and a 12-month high of $185.16. The stock has a market capitalization of $689.90 billion, a P/E ratio of 6.37, a P/E/G ratio of 2.41 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. Equities research analysts anticipate that Broadcom Inc. will post 3.75 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 9.12%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Citigroup reiterated a “buy” rating and issued a $156.00 target price on shares of Broadcom in a research report on Tuesday, June 11th. Bank of America reiterated a “buy” rating and issued a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Sanford C. Bernstein lifted their target price on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, Benchmark restated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $189.23.

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.