Evergreen Capital Management LLC Has $9.78 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Evergreen Capital Management LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.1% in the 2nd quarter, Holdings Channel reports. The firm owned 6,093 shares of the semiconductor manufacturer’s stock after buying an additional 123 shares during the quarter. Evergreen Capital Management LLC’s holdings in Broadcom were worth $9,783,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Public Sector Pension Investment Board lifted its position in shares of Broadcom by 36.6% in the second quarter. Public Sector Pension Investment Board now owns 242,040 shares of the semiconductor manufacturer’s stock worth $388,602,000 after buying an additional 64,876 shares during the last quarter. Beck Capital Management LLC raised its stake in shares of Broadcom by 1.7% in the 2nd quarter. Beck Capital Management LLC now owns 4,340 shares of the semiconductor manufacturer’s stock valued at $6,968,000 after acquiring an additional 72 shares in the last quarter. Harmony Asset Management LLC boosted its position in Broadcom by 9.5% during the second quarter. Harmony Asset Management LLC now owns 944 shares of the semiconductor manufacturer’s stock worth $1,515,000 after purchasing an additional 82 shares during the period. Estabrook Capital Management boosted its position in Broadcom by 900.0% during the second quarter. Estabrook Capital Management now owns 250 shares of the semiconductor manufacturer’s stock worth $401,000 after purchasing an additional 225 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Broadcom by 903.9% during the second quarter. EverSource Wealth Advisors LLC now owns 81,225 shares of the semiconductor manufacturer’s stock valued at $130,409,000 after purchasing an additional 73,134 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of AVGO stock opened at $171.10 on Monday. The stock’s fifty day simple moving average is $156.81 and its 200 day simple moving average is $146.91. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16. The firm has a market cap of $796.45 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 2.55 and a beta of 1.16. 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 earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, analysts expect that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value 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 disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a report on Thursday, June 13th. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Finally, UBS Group dropped their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

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.