Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Atlas Private Wealth Advisors

Atlas Private Wealth Advisors lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,622 shares of the semiconductor manufacturer’s stock after purchasing an additional 852 shares during the period. Atlas Private Wealth Advisors’ holdings in Broadcom were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Broadcom by 191.6% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 496,518 shares of the semiconductor manufacturer’s stock valued at $83,132,000 after purchasing an additional 326,243 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Broadcom by 11.2% in the 1st quarter. Sound Income Strategies LLC now owns 1,641 shares of the semiconductor manufacturer’s stock valued at $275,000 after purchasing an additional 165 shares during the period. CogentBlue Wealth Advisors LLC lifted its stake in shares of Broadcom by 26.3% in the 1st quarter. CogentBlue Wealth Advisors LLC now owns 1,204 shares of the semiconductor manufacturer’s stock valued at $202,000 after purchasing an additional 251 shares during the period. Prentice Wealth Management LLC lifted its stake in shares of Broadcom by 73.6% in the 1st quarter. Prentice Wealth Management LLC now owns 11,286 shares of the semiconductor manufacturer’s stock valued at $1,890,000 after purchasing an additional 4,784 shares during the period. Finally, Foster Victor Wealth Advisors LLC lifted its stake in shares of Broadcom by 23.5% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 78,135 shares of the semiconductor manufacturer’s stock valued at $14,216,000 after purchasing an additional 14,871 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVGO. Wall Street Zen cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Sunday. Evercore ISI restated an “outperform” rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Mizuho upped their price objective on shares of Broadcom from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, June 6th. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Finally, Bank of America raised their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.09.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 730,576 shares of company stock valued at $133,778,494. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 2.9%

Shares of AVGO stock opened at $248.70 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market cap of $1.17 trillion, a PE ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The company has a 50-day moving average of $213.01 and a two-hundred day moving average of $209.50. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $10.96 earnings per share. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.95%. Broadcom’s payout ratio is currently 88.39%.

Broadcom announced that its Board of Directors has approved a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.