Vista Cima Wealth Management LLC Has $2.60 Million Holdings in Broadcom Inc. $AVGO

Vista Cima Wealth Management LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 53.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,507 shares of the semiconductor manufacturer’s stock after buying an additional 2,628 shares during the period. Broadcom accounts for 2.2% of Vista Cima Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Vista Cima Wealth Management LLC’s holdings in Broadcom were worth $2,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Miller Global Investments LLC acquired a new position in Broadcom in the fourth quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom in the fourth quarter valued at $33,000. Family CFO Inc acquired a new position in Broadcom in the fourth quarter valued at $35,000. PayPay Securities Corp lifted its holdings in Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock valued at $41,000 after buying an additional 56 shares during the period. Finally, Camelot Portfolios LLC acquired a new position in Broadcom in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares of the company’s stock, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last quarter. Insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $385.73 on Monday. The company has a market cap of $1.83 trillion, a price-to-earnings ratio of 64.29, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41. Broadcom Inc. has a 52 week low of $241.11 and a 52 week high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $396.22 and a 200-day moving average of $362.04.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS. On average, equities analysts forecast that Broadcom Inc. will post 9.97 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AVGO shares. Mizuho boosted their target price on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group set a $485.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Truist Financial raised their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Read Our Latest Analysis on AVGO

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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