Broadcom Inc. $AVGO Shares Acquired by Cypress Wealth Services LLC

Cypress Wealth Services LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 29.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,163 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,861 shares during the period. Cypress Wealth Services LLC’s holdings in Broadcom were worth $2,693,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AVGO. Sawyer & Company Inc increased its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Broadcom in the 2nd quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new position in Broadcom during the 2nd quarter worth approximately $28,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom during the 2nd quarter valued at $28,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Broadcom in the second quarter valued at $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $352.13 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.67 trillion, a PE ratio of 73.98, a price-to-earnings-growth ratio of 1.20 and a beta of 1.19. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a 50 day moving average price of $362.74 and a two-hundred day moving average price of $323.95.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the prior year, the business posted $1.42 EPS. Broadcom’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 yield of 0.7%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. Broadcom’s dividend payout ratio is 54.62%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Argus lifted their price target on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $475.00 target price (up previously from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Citigroup reissued a “buy” rating and issued a $480.00 price target (up from $415.00) on shares of Broadcom in a research report on Friday, December 12th. Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, Barclays reiterated an “overweight” rating and issued a $500.00 price objective (up previously from $450.00) on shares of Broadcom in a research note on Friday, December 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Buy” and a consensus price target of $436.33.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 1,928 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the sale, the insider directly owned 23,582 shares in the company, valued at approximately $7,730,179.60. The trade was a 7.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were bought at an average cost of $325.13 per share, with a total value of $325,130.00. Following the transaction, the director directly owned 36,602 shares of the company’s stock, valued at approximately $11,900,408.26. This trade represents a 2.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 524,780 shares of company stock valued at $195,499,150. 2.00% of the stock is owned by corporate insiders.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.