GHP Investment Advisors Inc. Purchases 3,077 Shares of Broadcom Inc. (NASDAQ:AVGO)

GHP Investment Advisors Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,379.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,300 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,077 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Broadcom were worth $569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Delta Asset Management LLC TN raised its holdings in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Broadcom during the 1st quarter worth approximately $36,000. Clear Point Advisors Inc. raised its holdings in Broadcom by 310.0% during the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after buying an additional 31 shares during the period. Ruedi Wealth Management Inc. raised its holdings in Broadcom by 104.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 51 shares of the semiconductor manufacturer’s stock worth $68,000 after buying an additional 26 shares during the period. Finally, Indiana Trust & Investment Management CO raised its holdings in Broadcom by 39.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock worth $85,000 after buying an additional 15 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group lowered their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Finally, Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.54.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 4.2 %

AVGO stock opened at $179.24 on Wednesday. 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’s 50-day simple moving average is $168.53 and its 200 day simple moving average is $155.27. Broadcom Inc. has a 52 week low of $82.72 and a 52 week high of $186.42. The company has a market capitalization of $834.34 billion, a PE ratio of 155.86, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for 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 revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 earnings per share. As a group, sell-side analysts anticipate 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 paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 184.35%.

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.