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

Invera Wealth Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 916 shares of the semiconductor manufacturer’s stock after purchasing an additional 80 shares during the period. Broadcom comprises about 1.6% of Invera Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest position. Invera Wealth Advisors LLC’s holdings in Broadcom were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barry Investment Advisors LLC purchased a new stake in Broadcom during the fourth quarter worth about $228,000. Vise Technologies Inc. increased its stake in Broadcom by 49.9% during the fourth quarter. Vise Technologies Inc. now owns 2,901 shares of the semiconductor manufacturer’s stock worth $3,238,000 after purchasing an additional 966 shares during the period. Jump Financial LLC purchased a new stake in Broadcom during the fourth quarter worth about $2,690,000. Barings LLC increased its stake in Broadcom by 36.1% during the fourth quarter. Barings LLC now owns 494 shares of the semiconductor manufacturer’s stock worth $551,000 after purchasing an additional 131 shares during the period. Finally, Capital International Ltd. CA increased its stake in Broadcom by 1.7% during the fourth quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock worth $87,367,000 after purchasing an additional 1,310 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 2,540 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Hock E. Tan sold 7,502 shares of the company’s 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 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 is available through the SEC website. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $148.21 on Wednesday. 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 Inc. has a twelve month low of $79.51 and a twelve month high of $185.16. The stock has a 50 day moving average of $188.66 and a two-hundred day moving average of $156.32. The stock has a market cap 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 issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 3.75 earnings per share for the current year.

Broadcom Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AVGO shares. The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Melius assumed coverage on Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective for the company. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. TD Cowen boosted their price objective on Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Sanford C. Bernstein boosted their price objective on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom 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.