Broadcom Inc. (NASDAQ:AVGO) is FRG Family Wealth Advisors LLC’s Largest Position

FRG Family Wealth Advisors LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 910.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 101,797 shares of the semiconductor manufacturer’s stock after purchasing an additional 91,718 shares during the period. Broadcom accounts for 23.7% of FRG Family Wealth Advisors LLC’s investment portfolio, making the stock its largest position. FRG Family Wealth Advisors LLC’s holdings in Broadcom were worth $163,438,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Barry Investment Advisors LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $228,000. Vise Technologies Inc. boosted 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 valued at $3,238,000 after buying an additional 966 shares during the period. Jump Financial LLC purchased a new position in Broadcom during the fourth quarter worth about $2,690,000. Barings LLC increased its stake in Broadcom by 36.1% in the 4th quarter. Barings LLC now owns 494 shares of the semiconductor manufacturer’s stock worth $551,000 after acquiring an additional 131 shares during the last quarter. Finally, Capital International Ltd. CA raised its holdings in shares of Broadcom by 1.7% in the 4th quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock valued at $87,367,000 after acquiring an additional 1,310 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom 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 transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $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 news, CEO Hock E. Tan sold 7,502 shares of the firm’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 value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction 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 completion of the sale, 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. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVGO. Piper Sandler upped their price objective on shares of Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. TD Cowen increased their price target on shares of Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Jefferies Financial Group lifted their price objective on shares of Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. UBS Group cut their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 13th. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Broadcom Trading Up 6.8 %

AVGO opened at $158.27 on Thursday. The firm has a market capitalization of $736.73 billion, a price-to-earnings ratio of 6.81, a PEG ratio of 2.41 and a beta of 1.16. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16. The business has a 50 day simple moving average of $188.37 and a two-hundred day simple moving average of $156.34. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 earnings per share. Analysts predict that Broadcom Inc. will post 3.75 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.34%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

About Broadcom

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.