Vishria Bird Financial Group LLC Takes Position in Broadcom Inc. $AVGO

Vishria Bird Financial Group LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,383 shares of the semiconductor manufacturer’s stock, valued at approximately $3,755,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank raised its position in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares in the last quarter. Sciencast Management LP boosted its stake in shares of Broadcom by 393.1% during the 1st quarter. Sciencast Management LP now owns 9,373 shares of the semiconductor manufacturer’s stock valued at $1,569,000 after buying an additional 7,472 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Broadcom during the first quarter worth approximately $2,004,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $430.00 price target (up from $375.00) on shares of Broadcom in a report on Friday, December 12th. Barclays reissued an “overweight” rating and issued a $500.00 target price (up previously from $450.00) on shares of Broadcom in a research report on Friday, December 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 price target on shares of Broadcom in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Finally, Rosenblatt Securities upped their price objective on Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $436.89.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $343.77 on Wednesday. The company has a market cap of $1.63 trillion, a PE ratio of 72.22, a P/E/G ratio of 1.16 and a beta of 1.21. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The firm has a 50-day simple moving average of $361.95 and a 200 day simple moving average of $329.71. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, December 22nd. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is currently 54.62%.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the sale, the chief financial officer directly owned 277,237 shares in the company, valued at approximately $96,428,573.34. This trade represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 1,928 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the transaction, the insider directly owned 23,582 shares of the company’s stock, valued at approximately $7,730,179.60. This trade represents a 7.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 680,701 shares of company stock valued at $249,624,757 over the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.