TPG Financial Advisors LLC Makes New Investment in Broadcom Inc. $AVGO

Key Points

• TPG Financial Advisors LLC acquired a new position in Broadcom Inc. ($AVGO), purchasing 883 shares valued at approximately $243,000 in the second quarter of 2023.
• Wall Street analysts have largely positive forecasts for Broadcom, with multiple firms raising their price targets, including Bank of America increasing their target from $300 to $400.
• Broadcom announced a quarterly dividend of $0.59 per share, representing a 0.7% yield, and reported earnings of $1.69 per share for its latest quarter, exceeding analyst expectations.

TPG Financial Advisors LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 883 shares of the semiconductor manufacturer's stock, valued at approximately $243,000.

Several other large investors also recently added to or reduced their stakes in AVGO. Brighton Jones LLC grew its position in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Broadcom by 9.2% in the first quarter. GAMMA Investing LLC now owns 103,184 shares of the semiconductor manufacturer's stock worth $17,276,000 after buying an additional 8,672 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Broadcom by 1,023.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 252,450 shares of the semiconductor manufacturer's stock worth $42,267,000 after buying an additional 229,985 shares during the last quarter. Finally, Grant Private Wealth Management Inc lifted its stake in shares of Broadcom by 5.8% in the first quarter. Grant Private Wealth Management Inc now owns 8,529 shares of the semiconductor manufacturer's stock worth $1,418,000 after buying an additional 467 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AVGO shares. KeyCorp restated an "overweight" rating and issued a $420.00 price objective (up from $400.00) on shares of Broadcom in a research note on Tuesday, September 30th. Bank of America boosted their price objective on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Oppenheimer restated an "outperform" rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Morgan Stanley boosted their price objective on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Evercore ISI restated an "outperform" rating and issued a $342.00 price objective (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $357.22.

Broadcom Price Performance

NASDAQ:AVGO opened at $324.63 on Monday. The stock has a market cap of $1.53 trillion, a P/E ratio of 82.81, a PEG ratio of 1.80 and a beta of 1.20. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a fifty day moving average price of $322.64 and a 200 day moving average price of $263.58. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's payout ratio is 60.20%.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares of the company's stock, valued at $246,412,152.04. The trade was a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. Corporate insiders own 2.00% of the company's stock.

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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