567 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 567 shares of the semiconductor manufacturer’s stock, valued at approximately $252,000.

A number of other large investors have also made changes to their positions in the business. Schubert & Co raised its position in shares of Broadcom by 77.4% during the 2nd quarter. Schubert & Co now owns 55 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new position in shares of Broadcom during the 2nd quarter worth approximately $32,000. Coston McIsaac & Partners purchased a new position in shares of Broadcom during the 2nd quarter worth approximately $32,000. First Personal Financial Services boosted its position in shares of Broadcom by 126.7% during the 3rd quarter. First Personal Financial Services now owns 68 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 38 shares during the period. Finally, Win Advisors Inc. boosted its position in shares of Broadcom by 53.3% during the 2nd quarter. Win Advisors Inc. now owns 69 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 24 shares during the period. 81.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVGO. Bank of America raised their price target on shares of Broadcom from $625.00 to $650.00 in a research report on Friday, December 9th. Truist Financial raised their price target on shares of Broadcom from $630.00 to $662.00 in a research report on Friday, December 9th. Susquehanna decreased their price target on shares of Broadcom from $680.00 to $650.00 in a research report on Monday, December 5th. Wells Fargo & Company began coverage on shares of Broadcom in a research report on Friday, December 9th. They issued an “equal weight” rating for the company. Finally, Cowen raised their price target on shares of Broadcom from $540.00 to $555.00 and gave the company a “market perform” rating in a research report on Friday, December 9th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $667.37.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $570.78 on Friday. The company’s fifty day moving average price is $549.52 and its 200 day moving average price is $513.92. Broadcom Inc. has a 12 month low of $415.07 and a 12 month high of $645.31. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.62 and a quick ratio of 2.35. The firm has a market capitalization of $238.52 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.21 and a beta of 1.08.

Broadcom (NASDAQ:AVGOGet Rating) last announced its quarterly earnings results on Thursday, December 8th. The semiconductor manufacturer reported $9.75 EPS for the quarter, topping the consensus estimate of $9.50 by $0.25. Broadcom had a net margin of 34.62% and a return on equity of 70.00%. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the business earned $7.01 EPS. Broadcom’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom Inc. will post 37.27 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Tuesday, December 20th were given a dividend of $4.60 per share. This is an increase from Broadcom’s previous quarterly dividend of $4.10. This represents a $18.40 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, December 19th. Broadcom’s dividend payout ratio (DPR) is presently 69.43%.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 170 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $574.86, for a total transaction of $97,726.20. Following the transaction, the director now directly owns 2,981 shares of the company’s stock, valued at approximately $1,713,657.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

About Broadcom

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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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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