Mission Wealth Management LP Has $2.85 Million Holdings in Broadcom Inc (NASDAQ:AVGO)

Mission Wealth Management LP trimmed its position in shares of Broadcom Inc (NASDAQ:AVGO) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,808 shares of the semiconductor manufacturer’s stock after selling 68 shares during the quarter. Mission Wealth Management LP’s holdings in Broadcom were worth $2,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado lifted its holdings in Broadcom by 4.1% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 75,097 shares of the semiconductor manufacturer’s stock worth $17,805,000 after purchasing an additional 2,941 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Broadcom by 2.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,062 shares of the semiconductor manufacturer’s stock worth $1,200,000 after purchasing an additional 134 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Broadcom by 57.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 51,889 shares of the semiconductor manufacturer’s stock worth $12,303,000 after buying an additional 18,935 shares during the period. Silvercrest Asset Management Group LLC increased its position in Broadcom by 104.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,331 shares of the semiconductor manufacturer’s stock worth $553,000 after buying an additional 1,190 shares during the period. Finally, Two Sigma Advisers LP bought a new position in Broadcom in the 1st quarter worth approximately $1,494,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

Broadcom stock opened at $378.65 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.88 and a current ratio of 2.04. The firm has a market cap of $153.16 billion, a P/E ratio of 71.04, a P/E/G ratio of 1.67 and a beta of 0.90. The business’s fifty day moving average is $361.89 and its two-hundred day moving average is $310.85. Broadcom Inc has a 52 week low of $155.67 and a 52 week high of $387.80.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.24 by $0.16. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.76 billion. Broadcom had a return on equity of 32.44% and a net margin of 10.70%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.16 earnings per share. On average, equities research analysts predict that Broadcom Inc will post 18.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were paid a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio is currently 74.67%.

In other news, CEO Hock E. Tan sold 78,125 shares of the company’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $382.36, for a total transaction of $29,871,875.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Charlie B. Kawwas sold 4,586 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $354.01, for a total value of $1,623,489.86. The disclosure for this sale can be found here. In the last three months, insiders sold 712,112 shares of company stock worth $246,515,630. Insiders own 3.30% of the company’s stock.

AVGO has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on Broadcom from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. They noted that the move was a valuation call. Cowen lifted their price target on Broadcom from $305.00 to $350.00 and gave the stock a “market perform” rating in a research report on Friday, September 4th. Piper Sandler lifted their price target on Broadcom from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. Mizuho lifted their price target on Broadcom from $350.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, September 4th. They noted that the move was a valuation call. Finally, Wells Fargo & Company lifted their price target on Broadcom from $300.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Friday, September 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $382.48.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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