Intergy Private Wealth LLC Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Intergy Private Wealth LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 893.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,002 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,599 shares during the period. Intergy Private Wealth LLC’s holdings in Broadcom were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Aspiriant LLC boosted its position in Broadcom by 1,205.0% during the third quarter. Aspiriant LLC now owns 10,805 shares of the semiconductor manufacturer’s stock worth $1,864,000 after purchasing an additional 9,977 shares during the period. Trust Point Inc. boosted its holdings in Broadcom by 912.9% in the 3rd quarter. Trust Point Inc. now owns 42,186 shares of the semiconductor manufacturer’s stock worth $7,277,000 after buying an additional 38,021 shares during the period. Aaron Wealth Advisors LLC grew its stake in Broadcom by 1,233.0% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 19,288 shares of the semiconductor manufacturer’s stock valued at $3,327,000 after buying an additional 17,841 shares in the last quarter. Stonegate Investment Group LLC grew its stake in Broadcom by 1,448.2% in the 3rd quarter. Stonegate Investment Group LLC now owns 159,390 shares of the semiconductor manufacturer’s stock valued at $27,495,000 after buying an additional 149,095 shares in the last quarter. Finally, M3 Advisory Group LLC raised its holdings in Broadcom by 1,236.5% during the 3rd quarter. M3 Advisory Group LLC now owns 6,843 shares of the semiconductor manufacturer’s stock valued at $1,180,000 after acquiring an additional 6,331 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Broadcom stock opened at $179.89 on Friday. The firm has a fifty day simple moving average of $166.52 and a two-hundred day simple moving average of $153.25. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company has a market capitalization of $837.37 billion, a PE ratio of 7.74, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. Research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AVGO shares. JPMorgan Chase & Co. raised their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. UBS Group cut their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Oppenheimer reduced their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $191.54.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last three months. 2.00% of the stock is owned by insiders.

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.