Broadcom Inc. $AVGO Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,345 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,143 shares during the quarter. Broadcom comprises about 1.2% of EverSource Wealth Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. EverSource Wealth Advisors LLC’s holdings in Broadcom were worth $26,006,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AVGO. Vanguard Group Inc. increased its holdings in shares of Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after buying an additional 6,222,802 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after purchasing an additional 2,226,585 shares during the period. Norges Bank purchased a new stake in shares of Broadcom during the second quarter valued at $18,579,549,000. Price T Rowe Associates Inc. MD boosted its position in shares of Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Finally, Nuveen LLC purchased a new position in Broadcom in the 1st quarter worth about $6,649,117,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.3%

AVGO opened at $380.61 on Thursday. The company has a market capitalization of $1.80 trillion, a PE ratio of 97.09, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $403.00. The business has a 50-day moving average of $354.78 and a 200-day moving average of $309.96.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on AVGO. Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Wells Fargo & Company upped their price target on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Piper Sandler lifted their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. The Goldman Sachs Group set a $435.00 target price on Broadcom and gave the company a “buy” rating in a report on Tuesday, November 25th. Finally, Truist Financial lifted their price target on Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $383.00.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $331.14, for a total transaction of $264,912.00. Following the transaction, the director directly owned 21,382 shares of the company’s stock, valued at $7,080,435.48. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. 2.00% of the stock is currently 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.