Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 12.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,128 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,191 shares during the period. Broadcom makes up approximately 1.0% of Ashton Thomas Private Wealth LLC’s portfolio, making the stock its 18th biggest holding. Ashton Thomas Private Wealth LLC’s holdings in Broadcom were worth $17,866,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Invera Wealth Advisors LLC increased its stake in shares of Broadcom by 9.6% during the second quarter. Invera Wealth Advisors LLC now owns 916 shares of the semiconductor manufacturer’s stock worth $1,570,000 after acquiring an additional 80 shares during the period. Fairbanks Capital Management Inc. boosted its holdings in Broadcom by 2.5% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 2,864 shares of the semiconductor manufacturer’s stock valued at $4,598,000 after purchasing an additional 70 shares in the last quarter. Harrington Investments INC acquired a new position in Broadcom during the 2nd quarter worth approximately $207,000. Oak Thistle LLC acquired a new position in Broadcom during the 2nd quarter worth approximately $942,000. Finally, Mount Lucas Management LP purchased a new position in shares of Broadcom during the 2nd quarter worth approximately $279,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 2,540 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Justine Page sold 2,540 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Jefferies Financial Group increased their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. TD Cowen boosted their price objective on shares of Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Barclays increased their target price on shares of Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Finally, Piper Sandler lifted their price target on shares of Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Broadcom Trading Up 5.2 %

Shares of AVGO opened at $148.21 on Wednesday. The stock has a fifty day moving average of $188.66 and a two-hundred day moving average of $156.32. 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 $689.90 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. Broadcom Inc. has a fifty-two week low of $79.51 and a fifty-two week high of $185.16.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. As a group, analysts forecast that Broadcom Inc. will post 3.75 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.43%. Broadcom’s payout ratio is 9.12%.

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.