Brighton Jones LLC Acquires 133 Shares of Broadcom Inc. (NASDAQ:AVGO)

Brighton Jones LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,480 shares of the semiconductor manufacturer’s stock after acquiring an additional 133 shares during the quarter. Brighton Jones LLC’s holdings in Broadcom were worth $3,981,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. grew its holdings in Broadcom by 72.7% during 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 during the last quarter. Richardson Capital Management LLC bought a new stake in Broadcom during the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN grew its holdings in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in Broadcom during the 1st quarter worth approximately $36,000. Finally, Ulland Investment Advisors LLC bought a new stake in Broadcom during the 1st quarter worth approximately $37,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVGO. Rosenblatt Securities dropped their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of Broadcom in a research report on Friday, September 6th. Mizuho boosted their price target on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Truist Financial boosted their price target on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’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 sale, 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 SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $167.42 on Friday. Broadcom Inc. has a 1 year low of $79.51 and a 1 year high of $185.16. 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 has a market cap of $779.32 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 2.55 and a beta of 1.16. The company has a fifty day moving average price of $156.80 and a 200-day moving average price of $146.69.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 47.3% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 3.77 EPS for the current fiscal 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 yield of 1.27%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 9.12%.

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.