Orion Porfolio Solutions LLC Grows Position in Broadcom Inc. $AVGO

Orion Porfolio Solutions LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGOFree Report) by 5.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 281,559 shares of the semiconductor manufacturer’s stock after acquiring an additional 13,398 shares during the quarter. Broadcom accounts for about 0.7% of Orion Porfolio Solutions LLC’s holdings, making the stock its 20th biggest position. Orion Porfolio Solutions LLC’s holdings in Broadcom were worth $92,889,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Vanguard Group Inc. grew its holdings in shares of Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares during the period. State Street Corp grew its holdings in Broadcom by 0.5% in the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after purchasing an additional 873,963 shares during the last quarter. Geode Capital Management LLC grew its holdings in Broadcom by 2.1% in the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after purchasing an additional 2,226,585 shares during the last quarter. Norges Bank purchased a new position in shares of Broadcom in the second quarter valued at $18,579,549,000. Finally, Invesco Ltd. raised its stake in shares of Broadcom by 8.4% during the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after buying an additional 2,978,768 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

Wall Street Analyst Weigh In

Several research firms have recently commented on AVGO. Oppenheimer increased their price target on shares of Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Rosenblatt Securities boosted their price target on Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. JPMorgan Chase & Co. increased their price objective on Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. KeyCorp reissued an “overweight” rating and set a $500.00 price objective (up from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, Wolfe Research upgraded shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $432.13.

Check Out Our Latest Analysis on Broadcom

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 130,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the transaction, the chief executive officer owned 595,638 shares in the company, valued at $194,189,900.76. The trade was a 17.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the completion of the sale, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. The trade was a 9.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 779,101 shares of company stock worth $283,804,325. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $317.53 on Thursday. The company has a market cap of $1.51 trillion, a P/E ratio of 66.71, a P/E/G ratio of 1.00 and a beta of 1.22. The firm’s 50 day moving average is $334.52 and its two-hundred day moving average is $342.68. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 EPS. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is currently 54.62%.

About Broadcom

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Further Reading

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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