Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Boosted by Ieq Capital LLC

Ieq Capital LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,422 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,067 shares during the quarter. Broadcom comprises 0.7% of Ieq Capital LLC’s portfolio, making the stock its 26th largest holding. Ieq Capital LLC’s holdings in Broadcom were worth $53,659,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of Broadcom by 5.7% during the 2nd quarter. Brighton Jones LLC now owns 2,480 shares of the semiconductor manufacturer’s stock worth $3,981,000 after acquiring an additional 133 shares in the last quarter. ProVise Management Group LLC bought a new stake in shares of Broadcom during the 2nd quarter worth $318,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Broadcom during the 2nd quarter worth $136,000. Richardson Financial Services Inc. lifted its holdings in shares of Broadcom by 1,588.3% in the second quarter. Richardson Financial Services Inc. now owns 2,448 shares of the semiconductor manufacturer’s stock valued at $3,930,000 after purchasing an additional 2,303 shares in the last quarter. Finally, Kendall Capital Management lifted its holdings in shares of Broadcom by 5.3% in the second quarter. Kendall Capital Management now owns 6,481 shares of the semiconductor manufacturer’s stock valued at $10,405,000 after purchasing an additional 328 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AVGO shares. Evercore ISI increased their target price on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. Bank of America restated a “buy” rating and issued a $215.00 target price (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. Truist Financial increased their target price on Broadcom from $156.60 to $204.50 and gave the company a “buy” rating in a report on Thursday, June 13th. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Finally, Barclays increased their target price on Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Broadcom Price Performance

NASDAQ AVGO opened at $167.42 on Friday. The firm has a market cap of $779.32 billion, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The stock’s 50-day moving average is $156.80 and its two-hundred day moving average is $146.69. Broadcom Inc. has a fifty-two week low of $79.51 and a fifty-two week 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.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for 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 firm’s revenue was up 47.3% compared to the same quarter last year. During the same period last year, the business posted $0.95 earnings per share. On average, analysts anticipate that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was 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 of the company’s stock, valued at $217,594,136.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated 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 sale, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.