CW Advisors LLC Boosts Stake in Broadcom Inc. $AVGO

CW Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 24.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 305,952 shares of the semiconductor manufacturer’s stock after acquiring an additional 59,778 shares during the quarter. Broadcom accounts for about 0.8% of CW Advisors LLC’s investment portfolio, making the stock its 14th largest position. CW Advisors LLC’s holdings in Broadcom were worth $84,336,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Broadcom during the second quarter valued at approximately $18,579,549,000. Nuveen LLC bought a new stake in shares of Broadcom during the 1st quarter worth $6,649,117,000. Price T Rowe Associates Inc. MD grew its position in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. Vanguard Group Inc. increased its stake in Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares during the last quarter. Finally, Edgewood Management LLC bought a new position in Broadcom in the second quarter valued at $1,571,438,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 1.2%

NASDAQ:AVGO opened at $381.57 on Wednesday. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 97.34, a P/E/G ratio of 1.32 and a beta of 1.19. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $353.95 and a 200 day moving average of $309.46. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $403.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 earnings per share. On average, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Benchmark lifted their price target on Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. TD Cowen upped their target price on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Morgan Stanley reissued an “overweight” rating and set a $443.00 price target (up from $409.00) on shares of Broadcom in a research note on Monday. Piper Sandler boosted their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Finally, KeyCorp set a $460.00 target price on shares of Broadcom in a report on Monday, October 13th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Buy” and an average target price of $383.00.

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.