Green Alpha Advisors LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Green Alpha Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 809.2% during the third quarter, Holdings Channel reports. The institutional investor owned 10,328 shares of the semiconductor manufacturer’s stock after buying an additional 9,192 shares during the period. Broadcom comprises 1.4% of Green Alpha Advisors LLC’s holdings, making the stock its 23rd biggest position. Green Alpha Advisors LLC’s holdings in Broadcom were worth $1,782,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Personal CFO Solutions LLC raised its position in shares of Broadcom by 4.9% during the 4th quarter. Personal CFO Solutions LLC now owns 1,105 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 52 shares during the period. Ossiam raised its holdings in Broadcom by 8.0% during the fourth quarter. Ossiam now owns 8,623 shares of the semiconductor manufacturer’s stock valued at $9,625,000 after acquiring an additional 637 shares during the period. Connectus Wealth LLC lifted its position in shares of Broadcom by 5.1% in the fourth quarter. Connectus Wealth LLC now owns 6,474 shares of the semiconductor manufacturer’s stock valued at $7,234,000 after acquiring an additional 313 shares in the last quarter. Evercore Wealth Management LLC lifted its position in shares of Broadcom by 42.4% in the fourth quarter. Evercore Wealth Management LLC now owns 5,172 shares of the semiconductor manufacturer’s stock valued at $5,773,000 after acquiring an additional 1,539 shares in the last quarter. Finally, Intrepid Capital Management Inc. boosted its stake in shares of Broadcom by 11.8% in the fourth quarter. Intrepid Capital Management Inc. now owns 236 shares of the semiconductor manufacturer’s stock worth $263,000 after acquiring an additional 25 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 0.9 %

Broadcom stock traded down $1.56 during mid-day trading on Monday, hitting $175.08. The company’s stock had a trading volume of 15,540,297 shares, compared to its average volume of 31,117,604. 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 50 day moving average of $159.64 and a 200-day moving average of $149.81. Broadcom Inc. has a one year low of $81.83 and a one year high of $185.16. The stock has a market cap of $814.98 billion, a PE ratio of 7.53, a P/E/G ratio of 2.78 and a beta of 1.17.

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 net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. Evercore ISI lifted their target price on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Barclays increased their price target on Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Piper Sandler raised their price target on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Finally, Sanford C. Bernstein upped their price objective on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $189.23.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction 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 completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated 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 owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 263,452 shares of company stock worth $56,396,638. Company insiders own 2.00% of the company’s stock.

About Broadcom

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.