TCI Wealth Advisors Inc. Raises Position in Broadcom Inc. (NASDAQ:AVGO)

TCI Wealth Advisors Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 71.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 488 shares of the semiconductor manufacturer’s stock after purchasing an additional 204 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Broadcom were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AVGO. Evergreen Wealth Management LLC grew its holdings in Broadcom by 2.0% during the 4th quarter. Evergreen Wealth Management LLC now owns 3,162 shares of the semiconductor manufacturer’s stock valued at $3,530,000 after buying an additional 63 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC boosted its stake in shares of Broadcom by 4.1% during the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 411 shares of the semiconductor manufacturer’s stock worth $459,000 after purchasing an additional 16 shares during the last quarter. Clearstead Trust LLC grew its holdings in shares of Broadcom by 34.0% during the fourth quarter. Clearstead Trust LLC now owns 2,647 shares of the semiconductor manufacturer’s stock worth $2,955,000 after buying an additional 672 shares in the last quarter. SYM FINANCIAL Corp raised its position in shares of Broadcom by 16.8% in the fourth quarter. SYM FINANCIAL Corp now owns 368 shares of the semiconductor manufacturer’s stock valued at $411,000 after buying an additional 53 shares during the last quarter. Finally, River Global Investors LLP acquired a new position in Broadcom in the 4th quarter valued at $5,596,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $28.91 during mid-day trading on Monday, hitting $1,307.02. 821,900 shares of the stock were exchanged, compared to its average volume of 2,880,745. The stock’s fifty day simple moving average is $1,308.66 and its two-hundred day simple moving average is $1,151.47. Broadcom Inc. has a twelve month low of $615.86 and a twelve month high of $1,438.17. The company has a market cap of $605.70 billion, a P/E ratio of 47.96, a PEG ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.83 EPS. As a group, analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Benchmark reissued a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, Cantor Fitzgerald boosted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

About Broadcom

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.