Edgestream Partners L.P. Has $1.39 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Edgestream Partners L.P. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 66.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,601 shares of the semiconductor manufacturer’s stock after selling 3,214 shares during the period. Edgestream Partners L.P.’s holdings in Broadcom were worth $1,389,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in shares of Broadcom during the 2nd quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Broadcom during the 2nd quarter worth about $42,000. Activest Wealth Management boosted its stake in shares of Broadcom by 2,450.0% during the 2nd quarter. Activest Wealth Management now owns 51 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 49 shares during the last quarter. Bank of New Hampshire lifted its stake in Broadcom by 27.9% in the 2nd quarter. Bank of New Hampshire now owns 55 shares of the semiconductor manufacturer’s stock valued at $48,000 after purchasing an additional 12 shares during the last quarter. Finally, MRP Capital Investments LLC lifted its stake in Broadcom by 60.0% in the 1st quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 21 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Robert W. Baird raised their target price on shares of Broadcom from $900.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, September 5th. Wells Fargo & Company raised their target price on shares of Broadcom from $800.00 to $900.00 and gave the company an “equal weight” rating in a research note on Friday, September 1st. Oppenheimer raised their target price on shares of Broadcom from $900.00 to $990.00 and gave the company an “outperform” rating in a research note on Friday, September 1st. Piper Sandler raised their target price on shares of Broadcom from $830.00 to $925.00 and gave the company an “overweight” rating in a research note on Tuesday, August 29th. Finally, Evercore ISI increased their price target on shares of Broadcom from $1,000.00 to $1,050.00 in a report on Thursday, October 5th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $848.52.

Broadcom Stock Performance

Shares of Broadcom stock opened at $995.71 on Tuesday. Broadcom Inc. has a fifty-two week low of $511.11 and a fifty-two week high of $999.87. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.50 and a quick ratio of 2.25. The firm has a market capitalization of $410.97 billion, a P/E ratio of 30.62, a P/E/G ratio of 1.90 and a beta of 1.11. The company’s 50 day moving average price is $871.36 and its two-hundred day moving average price is $843.08.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, beating analysts’ consensus estimates of $10.43 by $0.11. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same quarter last year, the business posted $9.07 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Broadcom Inc. will post 37.83 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 21st were given a $4.60 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $18.40 dividend on an annualized basis and a yield of 1.85%. Broadcom’s dividend payout ratio is currently 56.58%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Check Kian Low purchased 11,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were bought at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the acquisition, the director now owns 15,951 shares in the company, valued at $13,909,750.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, Director Check Kian Low purchased 11,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were bought at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the acquisition, the director now owns 15,951 shares in the company, valued at $13,909,750.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You purchased 1,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $858.96 per share, for a total transaction of $858,960.00. Following the acquisition, the director now owns 3,510 shares of the company’s stock, valued at approximately $3,014,949.60. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company’s stock.

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.