RiverGlades Family Offices LLC Makes New $210,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

RiverGlades Family Offices LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 131 shares of the semiconductor manufacturer’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Ltd. CA lifted its holdings in Broadcom by 1.7% during the fourth quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock worth $87,367,000 after buying an additional 1,310 shares during the period. Focus Financial Network Inc. ADV bought a new stake in Broadcom during the fourth quarter valued at about $2,238,000. Gryphon Financial Partners LLC grew its stake in Broadcom by 99.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after purchasing an additional 801 shares during the last quarter. Steward Partners Investment Solutions LLC bought a new position in Broadcom in the fourth quarter worth about $2,205,000. Finally, Acadian Asset Management LLC lifted its position in shares of Broadcom by 168.8% during the second quarter. Acadian Asset Management LLC now owns 33,044 shares of the semiconductor manufacturer’s stock valued at $53,046,000 after buying an additional 20,753 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of several recent analyst reports. Sanford C. Bernstein boosted their price objective on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of Broadcom in a research note on Friday, September 6th. Piper Sandler lifted their target price on Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Finally, Melius started coverage on shares of Broadcom in a report on Monday, June 3rd. They issued a “buy” rating and a $185.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated 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 transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.2 %

AVGO stock opened at $171.10 on Friday. Broadcom Inc. has a 52 week low of $79.51 and a 52 week high of $185.16. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a 50-day simple moving average of $156.81 and a 200-day simple moving average of $146.91. The stock has a market capitalization of $796.45 billion, a P/E ratio of 7.36, a P/E/G ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the business posted $0.95 earnings per share. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s dividend 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.