LVW Advisors LLC Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

LVW Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 849.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,735 shares of the semiconductor manufacturer’s stock after purchasing an additional 36,446 shares during the quarter. Broadcom comprises about 0.9% of LVW Advisors LLC’s investment portfolio, making the stock its 19th biggest position. LVW Advisors LLC’s holdings in Broadcom were worth $7,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. raised its position in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Broadcom during the first quarter valued at about $29,000. Delta Asset Management LLC TN grew its stake in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Broadcom during the first quarter valued at about $36,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Broadcom during the fourth quarter valued at about $43,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $181.48 on Friday. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The stock has a market cap of $847.62 billion, a price-to-earnings ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17. The stock’s 50 day moving average price is $162.91 and its 200 day moving average price is $151.64. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 184.19%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 295,130 shares of company stock valued at $50,646,622. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AVGO shares. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Benchmark reiterated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.29.

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.