Coppell Advisory Solutions LLC Raises Holdings in Broadcom Inc. $AVGO

Coppell Advisory Solutions LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,418 shares of the semiconductor manufacturer’s stock after buying an additional 1,856 shares during the quarter. Broadcom makes up about 1.7% of Coppell Advisory Solutions LLC’s holdings, making the stock its 12th biggest position. Coppell Advisory Solutions LLC’s holdings in Broadcom were worth $14,388,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Redwood Financial Network Corp boosted its stake in shares of Broadcom by 1.7% during the second quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer’s stock valued at $535,000 after acquiring an additional 33 shares during the last quarter. Sawyer & Company Inc raised its stake in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. PFS Partners LLC lifted its holdings in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 38 shares in the last quarter. Costello Asset Management INC boosted its stake in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock worth $697,000 after purchasing an additional 38 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC grew its holdings in shares of Broadcom by 1.0% during the second quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock worth $1,087,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Sanford C. Bernstein restated an “outperform” rating and set a $475.00 target price (up previously from $400.00) on shares of Broadcom in a research report on Friday. Citigroup reissued a “buy” rating and set a $480.00 price target (up previously from $415.00) on shares of Broadcom in a research note on Friday. Oppenheimer raised their price objective on Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group reiterated a “buy” rating and issued a $472.00 target price (up from $415.00) on shares of Broadcom in a research note on Monday, December 1st. Finally, Barclays reissued an “overweight” rating and issued a $500.00 price target (up from $450.00) on shares of Broadcom in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $435.85.

Broadcom Stock Down 11.4%

Shares of NASDAQ:AVGO opened at $359.93 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The stock has a market capitalization of $1.70 trillion, a P/E ratio of 75.62, a PEG ratio of 1.22 and a beta of 1.19. The stock has a 50-day simple moving average of $363.17 and a 200-day simple moving average of $317.95.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 38.82%. Broadcom’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is presently 49.58%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 837,433 shares of company stock worth $303,900,352 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom 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.