Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 42,914 shares of the semiconductor manufacturer’s stock after buying an additional 748 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Broadcom were worth $37,225,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. boosted its holdings in shares of Broadcom by 8.0% in the 1st quarter. Sunbelt Securities Inc. now owns 5,564 shares of the semiconductor manufacturer’s stock valued at $3,527,000 after buying an additional 414 shares during the period. Border to Coast Pensions Partnership Ltd boosted its stake in Broadcom by 20.2% during the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 68,598 shares of the semiconductor manufacturer’s stock valued at $44,008,000 after purchasing an additional 11,532 shares during the period. Capital Advisors Wealth Management LLC boosted its stake in Broadcom by 12.7% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 1,964 shares of the semiconductor manufacturer’s stock valued at $1,704,000 after purchasing an additional 222 shares during the period. B.O.S.S. Retirement Advisors LLC boosted its stake in Broadcom by 749.5% during the 2nd quarter. B.O.S.S. Retirement Advisors LLC now owns 4,018 shares of the semiconductor manufacturer’s stock valued at $3,485,000 after purchasing an additional 3,545 shares during the period. Finally, Belpointe Asset Management LLC boosted its stake in Broadcom by 9.3% during the 1st quarter. Belpointe Asset Management LLC now owns 10,564 shares of the semiconductor manufacturer’s stock valued at $6,778,000 after purchasing an additional 899 shares during the period. 78.81% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.3 %

Shares of NASDAQ:AVGO traded down $2.82 during mid-day trading on Tuesday, hitting $847.18. The stock had a trading volume of 697,909 shares, compared to its average volume of 2,496,104. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.25 and a current ratio of 2.50. The company has a market cap of $349.67 billion, a PE ratio of 26.14, a P/E/G ratio of 1.78 and a beta of 1.10. Broadcom Inc. has a 12-month low of $415.07 and a 12-month high of $923.67. The company’s 50 day moving average is $875.05 and its 200-day moving average is $763.54.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating the consensus estimate of $10.43 by $0.11. The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.07 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 37.88 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be given a $4.60 dividend. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $18.40 annualized dividend and a dividend yield of 2.17%. Broadcom’s dividend payout ratio (DPR) is presently 56.58%.

Insider Activity at Broadcom

In related news, Director Check Kian Low acquired 11,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were purchased at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the purchase, the director now owns 15,951 shares in the company, valued at $13,909,750.53. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Broadcom news, Director Check Kian Low purchased 11,000 shares of the company’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 purchase, the director now directly owns 15,951 shares in the company, valued at approximately $13,909,750.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the completion of the transaction, the director now owns 9,123 shares in the company, valued at $7,806,368.64. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Rosenblatt Securities boosted their target price on shares of Broadcom from $900.00 to $1,000.00 in a research note on Friday, September 1st. Benchmark reissued a “buy” rating and set a $950.00 target price on shares of Broadcom in a research note on Friday, September 1st. Oppenheimer boosted 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. Susquehanna restated a “positive” rating and set a $1,010.00 price target on shares of Broadcom in a research report on Monday. Finally, Truist Financial boosted their price target on shares of Broadcom from $942.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $846.14.

Broadcom 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.