Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,554.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,874 shares of the semiconductor manufacturer’s stock after acquiring an additional 36,525 shares during the period. Broadcom comprises 0.6% of Mount Yale Investment Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Mount Yale Investment Advisors LLC’s holdings in Broadcom were worth $6,706,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AVGO. Kowal Investment Group LLC lifted its stake in Broadcom by 9.4% during the 1st quarter. Kowal Investment Group LLC now owns 850 shares of the semiconductor manufacturer’s stock worth $1,127,000 after acquiring an additional 73 shares in the last quarter. Little House Capital LLC raised its position in Broadcom by 22.6% in the 1st quarter. Little House Capital LLC now owns 4,205 shares of the semiconductor manufacturer’s stock valued at $5,573,000 after purchasing an additional 774 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Broadcom by 5.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,611 shares of the semiconductor manufacturer’s stock valued at $6,111,000 after purchasing an additional 244 shares in the last quarter. CCG Wealth Management LLC raised its position in Broadcom by 13.5% in the 1st quarter. CCG Wealth Management LLC now owns 210 shares of the semiconductor manufacturer’s stock valued at $278,000 after purchasing an additional 25 shares in the last quarter. Finally, Claro Advisors LLC raised its position in Broadcom by 39.6% in the 1st quarter. Claro Advisors LLC now owns 3,700 shares of the semiconductor manufacturer’s stock valued at $4,904,000 after purchasing an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 1.0 %

Shares of Broadcom stock opened at $173.00 on Monday. The company has a market cap of $805.29 billion, a P/E ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The firm has a fifty day moving average of $168.18 and a two-hundred day moving average of $154.68.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.23%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 9.12%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVGO shares. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Oppenheimer reduced their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

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.