Copperwynd Financial LLC Has $22.78 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Copperwynd Financial LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 951.6% during the second quarter, Holdings Channel reports. The firm owned 14,186 shares of the semiconductor manufacturer’s stock after buying an additional 12,837 shares during the period. Broadcom comprises 7.0% of Copperwynd Financial LLC’s holdings, making the stock its 2nd biggest holding. Copperwynd Financial LLC’s holdings in Broadcom were worth $22,776,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Legend Financial Advisors Inc. lifted its holdings in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the period. Richardson Capital Management LLC bought a new position in shares of Broadcom in the first quarter valued at approximately $29,000. Delta Asset Management LLC TN boosted its holdings in shares of Broadcom by 242.9% in 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 in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Broadcom during the 1st quarter worth approximately $36,000. Finally, Creekmur Asset Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 7,502 shares of the 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 transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. The disclosure for this sale can be found here. Insiders sold 233,452 shares of company stock valued at $51,278,838 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO opened at $172.69 on Friday. The firm has a market cap of $803.85 billion, a P/E ratio of 7.43, a PEG ratio of 2.78 and a beta of 1.16. Broadcom Inc. has a twelve month low of $80.89 and a twelve month high of $185.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s 50 day moving average price is $158.00 and its two-hundred day moving average price is $148.25.

Broadcom (NASDAQ:AVGO) last released 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 firm 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 company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. On average, analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.23%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of Broadcom in a research note on Friday, September 6th. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Bank of America reiterated a “buy” rating and issued a $215.00 price objective (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, Melius initiated coverage on Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 price target on the stock. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

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.