Perfromance Wealth Partners LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Perfromance Wealth Partners LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 62,269.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,578 shares of the semiconductor manufacturer’s stock after purchasing an additional 141,351 shares during the period. Broadcom accounts for about 0.8% of Perfromance Wealth Partners LLC’s holdings, making the stock its 17th biggest position. Perfromance Wealth Partners LLC’s holdings in Broadcom were worth $24,422,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. American Trust grew its stake in Broadcom by 2.3% during the fourth quarter. American Trust now owns 451 shares of the semiconductor manufacturer’s stock valued at $503,000 after acquiring an additional 10 shares in the last quarter. WNY Asset Management LLC grew its stake in Broadcom by 15.9% during the fourth quarter. WNY Asset Management LLC now owns 299 shares of the semiconductor manufacturer’s stock valued at $334,000 after acquiring an additional 41 shares in the last quarter. Beacon Financial Group grew its stake in Broadcom by 46.3% during the fourth quarter. Beacon Financial Group now owns 683 shares of the semiconductor manufacturer’s stock valued at $762,000 after acquiring an additional 216 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Broadcom by 27.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 143,264 shares of the semiconductor manufacturer’s stock valued at $159,918,000 after acquiring an additional 31,244 shares in the last quarter. Finally, Syon Capital LLC grew its stake in Broadcom by 21.9% during the fourth quarter. Syon Capital LLC now owns 4,722 shares of the semiconductor manufacturer’s stock valued at $5,271,000 after acquiring an additional 847 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVGO shares. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Morgan Stanley lifted their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Bank of America reiterated a “buy” rating and set a $215.00 target price (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $190.29.

Broadcom Stock Down 2.3 %

Shares of NASDAQ AVGO opened at $181.48 on Friday. 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 52 week low of $81.83 and a 52 week high of $186.42. The firm’s fifty day moving average is $162.91 and its 200 day moving average is $151.64. The company has a market cap of $847.62 billion, a price-to-earnings ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is presently 184.19%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 295,130 shares of company stock valued at $50,646,622. 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.