Inspirion Wealth Advisors LLC Has $302,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Inspirion Wealth Advisors LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 936.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,752 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,583 shares during the quarter. Inspirion Wealth Advisors LLC’s holdings in Broadcom were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harbor Investment Advisory LLC increased its stake in Broadcom by 915.6% in the third quarter. Harbor Investment Advisory LLC now owns 24,790 shares of the semiconductor manufacturer’s stock valued at $4,276,000 after purchasing an additional 22,349 shares in the last quarter. Mirador Capital Partners LP raised its stake in Broadcom by 1,060.6% during the 3rd quarter. Mirador Capital Partners LP now owns 11,548 shares of the semiconductor manufacturer’s stock worth $1,992,000 after buying an additional 10,553 shares during the period. Central Valley Advisors LLC lifted its holdings in Broadcom by 906.6% during the third quarter. Central Valley Advisors LLC now owns 22,508 shares of the semiconductor manufacturer’s stock worth $3,883,000 after acquiring an additional 20,272 shares in the last quarter. Eclectic Associates Inc. ADV acquired a new position in Broadcom in the third quarter valued at about $266,000. Finally, Great Waters Wealth Management increased its holdings in shares of Broadcom by 1,348.9% in the third quarter. Great Waters Wealth Management now owns 1,956 shares of the semiconductor manufacturer’s stock worth $337,000 after acquiring an additional 1,821 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

AVGO traded up $4.75 during trading hours on Friday, reaching $176.64. The company’s stock had a trading volume of 17,941,387 shares, compared to its average volume of 31,198,639. 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 company’s 50-day moving average is $159.64 and its 200-day moving average is $149.81. Broadcom Inc. has a 52 week low of $81.17 and a 52 week high of $185.16. The firm has a market cap of $822.24 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the company posted $0.95 EPS. Broadcom’s quarterly revenue 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. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.20%. Broadcom’s payout ratio is 9.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AVGO shares. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Sanford C. Bernstein boosted their price objective on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Jefferies Financial Group upped their target price on shares of Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Piper Sandler lifted their price target on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Insider Buying and Selling at Broadcom

In related 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 transaction of $8,168,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the company’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 approximately $235,746,936.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 243,452 shares of company stock valued at $52,950,238 in the last ninety days. 2.00% of the stock is currently owned by corporate 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.