Invera Wealth Advisors LLC Sells 72 Shares of Broadcom Inc. (NASDAQ:AVGO)

Invera Wealth Advisors LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 836 shares of the semiconductor manufacturer’s stock after selling 72 shares during the quarter. Invera Wealth Advisors LLC’s holdings in Broadcom were worth $1,053,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. CX Institutional raised its stake in Broadcom by 2.7% during the third quarter. CX Institutional now owns 1,279 shares of the semiconductor manufacturer’s stock worth $1,062,000 after acquiring an additional 34 shares in the last quarter. Ballentine Partners LLC increased its position in Broadcom by 25.2% during the 3rd quarter. Ballentine Partners LLC now owns 5,494 shares of the semiconductor manufacturer’s stock worth $4,563,000 after purchasing an additional 1,107 shares in the last quarter. KRS Capital Management LLC lifted its stake in Broadcom by 28.1% in the 3rd quarter. KRS Capital Management LLC now owns 1,091 shares of the semiconductor manufacturer’s stock valued at $906,000 after purchasing an additional 239 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its position in Broadcom by 6.2% in the third quarter. Oak Harbor Wealth Partners LLC now owns 1,820 shares of the semiconductor manufacturer’s stock valued at $1,512,000 after buying an additional 107 shares in the last quarter. Finally, Walkner Condon Financial Advisors LLC grew its stake in shares of Broadcom by 7.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 343 shares of the semiconductor manufacturer’s stock worth $285,000 after buying an additional 25 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Benchmark reissued a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. UBS Group upped their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Evercore ISI assumed coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Finally, Barclays upped their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Trading Down 0.4 %

Shares of NASDAQ:AVGO traded down $5.45 during mid-day trading on Monday, hitting $1,338.62. The company had a trading volume of 1,336,653 shares, compared to its average volume of 2,915,600. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a fifty day moving average price of $1,308.57 and a 200 day moving average price of $1,140.88. The company has a market capitalization of $620.34 billion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

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 the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.83 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

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.