Broadcom Inc. $AVGO Shares Acquired by Shepherd Financial Partners LLC

Shepherd Financial Partners LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 15.8% in the second quarter, HoldingsChannel reports. The firm owned 34,189 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,669 shares during the period. Broadcom comprises about 1.0% of Shepherd Financial Partners LLC’s portfolio, making the stock its 29th largest holding. Shepherd Financial Partners LLC’s holdings in Broadcom were worth $9,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Broadcom during the second quarter worth approximately $18,579,549,000. Nuveen LLC bought a new position in Broadcom during the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD grew its holdings in Broadcom by 37.8% during the 1st 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. grew its holdings in Broadcom by 1.3% during 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 in the last quarter. Finally, Edgewood Management LLC bought a new stake in shares of Broadcom in the 2nd quarter worth about $1,571,438,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. UBS Group reaffirmed a “buy” rating and set a $472.00 price target (up previously from $415.00) on shares of Broadcom in a research report on Monday. Sanford C. Bernstein increased their target price on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Barclays set a $450.00 price target on Broadcom and gave the company an “overweight” rating in a report on Tuesday, October 14th. Benchmark upped their price target on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Mizuho set a $435.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $391.04.

Broadcom Trading Up 2.4%

Shares of NASDAQ AVGO opened at $390.24 on Friday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $403.00. The company has a market cap of $1.84 trillion, a price-to-earnings ratio of 99.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock’s 50 day simple moving average is $356.79 and its 200 day simple moving average is $311.56.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Company Profile

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.