Cascade Financial Partners LLC Has $773,000 Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Cascade Financial Partners LLC increased its stake in Broadcom Inc. by 60.1%, now holding shares worth $773,000 following additional purchases during the first quarter.
• Several institutional investors, including Barnes Dennig Private Wealth Management LLC and Cheviot Value Management LLC, have recently acquired new stakes in Broadcom, contributing to 76.43% ownership by institutional investors.
• Broadcom reported a net revenue of $15 billion for the recent quarter, exceeding analyst expectations, along with an earnings per share of $1.58, marking a significant year-over-year growth of 20.2%.

Cascade Financial Partners LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 60.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,615 shares of the semiconductor manufacturer's stock after purchasing an additional 1,733 shares during the period. Cascade Financial Partners LLC's holdings in Broadcom were worth $773,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AVGO. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after buying an additional 18,845 shares during the last quarter. PARUS FINANCE UK Ltd grew its position in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares in the last quarter. Nebula Research & Development LLC grew its position in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Keener Financial Planning LLC grew its position in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its position in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Barclays increased their target price on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Morgan Stanley set a $338.00 target price on shares of Broadcom and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $340.00 target price on shares of Broadcom in a research report on Wednesday, August 13th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and an average target price of $295.96.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 over the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO traded down $0.58 on Monday, hitting $305.76. The company had a trading volume of 14,705,522 shares, compared to its average volume of 17,400,806. The stock has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 114.52, a PEG ratio of 2.18 and a beta of 1.15. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $279.50 and a two-hundred day moving average of $230.48. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.96 EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio is presently 88.39%.

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.