Brophy Wealth Management LLC Invests $2.28 Million in Broadcom Inc. (NASDAQ:AVGO)

Brophy Wealth Management LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,231 shares of the semiconductor manufacturer’s stock, valued at approximately $2,282,000. Broadcom makes up about 0.8% of Brophy Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Castleview Partners LLC boosted its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. grew its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Tsfg LLC increased its position in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares during the period. Cedar Wealth Management LLC lifted its holdings in shares of Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 216 shares during the last quarter. Finally, Krane Funds Advisors LLC bought a new stake in shares of Broadcom in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVGO. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Truist Financial boosted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley increased their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $195.96.

Insider Activity

In related news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last three months. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 0.3 %

Shares of NASDAQ:AVGO opened at $178.94 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a market cap of $835.75 billion, a P/E ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13. Broadcom Inc. has a 12 month low of $95.61 and a 12 month high of $186.42. The company’s 50-day moving average price is $173.14 and its two-hundred day moving average price is $163.05.

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.