Coldstream Capital Management Increases Stake in Broadcom Inc.

Coldstream Capital Management Inc. has significantly increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by an astounding 1,133.2% during the third quarter, as reported in the company's latest 13F filing with the Securities and Exchange Commission. Following the additional purchase of 75,085 shares, the firm now owns a total of 81,711 shares of the semiconductor manufacturer's stock. By the end of the third quarter, Coldstream Capital Management's investments in Broadcom were valued at approximately $14,102,000.

Institutional Investment Trends

In addition to Coldstream Capital Management, several other hedge funds have recently altered their positions in Broadcom. For example, Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom worth around $128,000 in the second quarter. Mark Sheptoff Financial Planning LLC also purchased a new stake valued at approximately $136,000, while American Capital Advisory LLC invested about $169,000 for a new position in the same period. Semus Wealth Partners LLC added a new investment worth about $202,000, and Palisades Hudson Asset Management L.P. made a new acquisition valued at roughly $204,000. Overall, institutional investors and hedge funds currently own 76.43% of Broadcom's shares.

Current Stock Performance

Recent market activity shows that Broadcom stock (NASDAQ:AVGO) opened at $178.94 on Tuesday. The company reports a current ratio of 1.04, a quick ratio of 0.94, and a debt-to-equity ratio of 1.02. Broadcom boasts a market capitalization of $835.75 billion, with a price-to-earnings ratio of 155.60, a PEG ratio of 2.11, and a beta value of 1.13. The stock has a 50-day moving average price of $173.14 and a two-hundred day moving average price of $163.05, with a 12-month low of $95.61 and a high of $186.42.

Recent Insider Transactions

In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock on September 25th at an average price of $174.53, totalizing approximately $130,897.50. After this transaction, Delly now holds 34,750 shares in the company, valued at around $6,064,917.50, reflecting a 2.11% decrease in their ownership. Additionally, CEO Hock E. Tan sold 50,000 shares on September 17th for an average of $163.37, amounting to $8,168,500. Tan's remaining shares in the company now total 1,331,910, valued at about $217,594,136.70, which is a 3.62% decrease in personal stock holdings. In total, insiders have sold 311,080 shares worth $53,540,590 in the last three months, and company insiders retain about 2.00% of the company's stock.

Analyst Ratings and Outlook

Equities research analysts have recently shared insights concerning Broadcom's stock. William Blair initiated coverage with an "outperform" rating. Rosenblatt Securities revised their price target on Broadcom from $2,400.00 to $240.00, maintaining a "buy" rating. Benchmark also reaffirmed a "buy" rating with a price target of $210.00. TD Cowen upgraded Broadcom to a "strong-buy" in their analysis, while Morgan Stanley raised their price target from $176.00 to $180.00, giving it an "overweight" rating. Out of the analysts covering the stock, three have assigned a hold rating, 22 a buy rating, and one a strong buy rating, leading to a consensus rating of "Moderate Buy" with an average target price of $195.96 according to MarketBeat.com.

About Broadcom Inc.

Broadcom Inc. designs, develops, and supplies various semiconductor devices, focusing on complex digital and mixed-signal complementary metal oxide semiconductor (CMOS) based devices and analog III-V based products worldwide. The company operates across two segments, Semiconductor Solutions and Infrastructure Software.

investment, stocks, corporate