Chicago Partners Investment Group LLC Buys 1,419 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Chicago Partners Investment Group LLC increased its stake in Broadcom Inc. by 9.1%, now owning 17,060 shares valued at approximately $2.86 million.
• Several institutional investors have also boosted their holdings in Broadcom, with Brighton Jones LLC raising its position by 21.8% and owning 29,683 shares worth $6.88 million.
• Broadcom's stock recently opened at $303.76, following a quarterly earnings report that beat analysts' expectations with $1.58 earnings per share.

Chicago Partners Investment Group LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,060 shares of the semiconductor manufacturer's stock after purchasing an additional 1,419 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Broadcom were worth $2,856,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after acquiring an additional 31,225 shares in the last quarter. Highview Capital Management LLC DE boosted its holdings in Broadcom by 1.3% in the fourth quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock worth $5,917,000 after acquiring an additional 322 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $602,000. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider directly owned 789,784 shares in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 in the last three months. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AVGO shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, June 6th. 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 report on Friday, June 6th. Oppenheimer lifted their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley set a $338.00 price objective on shares of Broadcom and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $294.92.

Broadcom Stock Up 0.7%

Broadcom stock opened at $303.76 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market capitalization of $1.43 trillion, a PE ratio of 113.77, a price-to-earnings-growth ratio of 2.15 and a beta of 1.15. The business has a 50 day simple moving average of $271.57 and a 200-day simple moving average of $226.37. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $310.34.

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

Broadcom Announces Dividend

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

Broadcom Company 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.

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