BIP Wealth LLC Buys 3,224 Shares of Broadcom Inc. $AVGO

BIP Wealth LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 49.6% in the third quarter, HoldingsChannel reports. The firm owned 9,719 shares of the semiconductor manufacturer’s stock after buying an additional 3,224 shares during the quarter. BIP Wealth LLC’s holdings in Broadcom were worth $3,206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AVGO. Brighton Jones LLC raised its stake in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares during the last quarter. United Bank raised its position in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after buying an additional 1,160 shares in the last quarter. Finally, Kooman & Associates bought a new position in shares of Broadcom in the 2nd quarter valued at about $200,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 2.4%

NASDAQ:AVGO opened at $332.79 on Wednesday. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 69.91, a price-to-earnings-growth ratio of 1.08 and a beta of 1.21. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $356.69 and a 200-day simple moving average of $336.92.

Broadcom (NASDAQ:AVGO) last posted 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 the consensus estimate of $17.46 billion. During the same quarter last year, the firm posted $1.42 EPS. The firm’s revenue was up 28.2% compared to the same quarter last year. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a dividend of $0.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom’s payout ratio is presently 54.62%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $347.12, for a total value of $10,413,600.00. Following the completion of the sale, the insider directly owned 210,573 shares in the company, valued at approximately $73,094,099.76. This represents a 12.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry L. You purchased 1,000 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were purchased at an average cost of $325.13 per share, for a total transaction of $325,130.00. Following the transaction, the director directly owned 36,602 shares in the company, valued at approximately $11,900,408.26. This represents a 2.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 779,901 shares of company stock valued at $284,069,237 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Mizuho set a $480.00 price objective on Broadcom and gave the company an “outperform” rating in a research report on Friday, January 9th. Robert W. Baird set a $420.00 target price on Broadcom in a research report on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Broadcom in a research report on Monday, December 29th. KeyCorp reaffirmed an “overweight” rating and set a $500.00 price objective (up from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $438.61.

Broadcom Company Profile

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.