Broadcom Inc. (NASDAQ:AVGO) is Meadow Creek Wealth Advisors LLC’s 7th Largest Position

Meadow Creek Wealth Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 912.0% during the third quarter, Holdings Channel reports. The fund owned 17,477 shares of the semiconductor manufacturer’s stock after buying an additional 15,750 shares during the period. Broadcom makes up approximately 2.4% of Meadow Creek Wealth Advisors LLC’s portfolio, making the stock its 7th largest position. Meadow Creek Wealth Advisors LLC’s holdings in Broadcom were worth $3,015,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Swedbank AB lifted its stake in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Raymond James & Associates boosted its holdings in Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after buying an additional 11,347,563 shares during the period. Jennison Associates LLC grew its stake in Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after buying an additional 1,263,957 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Broadcom by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock valued at $6,362,816,000 after acquiring an additional 83,846 shares during the period. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AVGO shares. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Stock Performance

NASDAQ AVGO opened at $173.00 on Friday. The firm has a market cap of $805.29 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17. The company has a 50-day simple moving average of $168.03 and a two-hundred day simple moving average of $154.41. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the company earned $0.95 EPS. Broadcom’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Company 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.