Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Cypress Point Wealth Management LLC

Cypress Point Wealth Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 985.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,747 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,586 shares during the period. Cypress Point Wealth Management LLC’s holdings in Broadcom were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of AVGO. Vanguard Group Inc. increased its holdings in Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Swedbank AB increased its stake in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after buying an additional 16,453,718 shares during the period. Van ECK Associates Corp lifted its stake in Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after acquiring an additional 11,453,554 shares during the last quarter. Raymond James & Associates grew its holdings in Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. Finally, National Pension Service increased its position in shares of Broadcom by 1,045.4% in the 3rd quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock valued at $1,427,120,000 after purchasing an additional 7,550,878 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Truist Financial boosted their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Stock Down 1.5 %

AVGO opened at $176.22 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $823.05 billion, a P/E ratio of 153.10, a P/E/G ratio of 2.16 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The stock has a fifty day moving average of $171.08 and a 200-day moving average of $158.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 184.19%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last 90 days. Company insiders own 2.00% 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.