United Advisor Group LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

United Advisor Group LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,641.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,790 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,515 shares during the period. United Advisor Group LLC’s holdings in Broadcom were worth $826,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Castleview Partners LLC lifted its holdings in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Delta Asset Management LLC TN increased its position in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares during the period. Tsfg LLC lifted its holdings in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom in the third quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC purchased a new position in Broadcom during the third quarter valued at approximately $45,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Mizuho increased their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Performance

Shares of AVGO stock opened at $183.81 on Friday. The company has a market capitalization of $858.50 billion, a P/E ratio of 159.70, a PEG ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $186.42. 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 stock has a 50 day moving average price of $169.80 and a two-hundred day moving average price of $156.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. Analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.15%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.19%.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred 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 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $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.