Prospera Private Wealth LLC Has $1.20 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Prospera Private Wealth LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 992.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,957 shares of the semiconductor manufacturer’s stock after buying an additional 6,320 shares during the quarter. Prospera Private Wealth LLC’s holdings in Broadcom were worth $1,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AVGO. Gamco Investors INC. ET AL lifted its stake in shares of Broadcom by 80.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock valued at $1,189,000 after purchasing an additional 400 shares during the period. Bamco Inc. NY increased its holdings in Broadcom by 13,754.9% in the first quarter. Bamco Inc. NY now owns 23,969 shares of the semiconductor manufacturer’s stock valued at $31,769,000 after purchasing an additional 23,796 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its stake in Broadcom by 1.8% in the first quarter. Mount Yale Investment Advisors LLC now owns 2,372 shares of the semiconductor manufacturer’s stock valued at $3,144,000 after buying an additional 42 shares during the period. Earnest Partners LLC boosted its holdings in Broadcom by 11.8% during the first quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer’s stock worth $276,000 after buying an additional 22 shares during the last quarter. Finally, Caxton Associates LP grew its position in shares of Broadcom by 5,434.5% during the 1st quarter. Caxton Associates LP now owns 47,486 shares of the semiconductor manufacturer’s stock worth $62,938,000 after buying an additional 46,628 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. Rosenblatt Securities reduced their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Price Performance

NASDAQ:AVGO opened at $164.23 on Friday. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The firm has a market capitalization of $767.05 billion, a price-to-earnings ratio of 142.68, a P/E/G ratio of 1.94 and a beta of 1.17. The stock’s 50 day moving average price is $173.70 and its two-hundred day moving average price is $160.62. 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 (NASDAQ:AVGO) last issued 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 184.19%.

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.