YHB Investment Advisors Inc. Increases Stake in Broadcom Inc.

YHB Investment Advisors Inc. has significantly increased its stake in Broadcom Inc. (NASDAQ:AVGO) by an impressive 1,068.5% during the third quarter. This information comes from the company's latest disclosure to the Securities and Exchange Commission (SEC). After acquiring an additional 10,001 shares, YHB now holds 10,937 shares of the semiconductor manufacturer, valued at approximately $1,887,000 as reported in their most recent filing.

A variety of other large institutional investors have also adjusted their holdings in Broadcom. For example, Vanguard Group Inc. raised its position in Broadcom by 3.0% in the first quarter, now owning 44,651,273 shares worth roughly $59.18 billion after purchasing another 1,303,462 shares last quarter. Swedbank AB made a more substantial increase, boosting its stake by 858.7% in the third quarter, owning 18,369,841 shares valued at about $3.17 billion after adding 16,453,718 shares during this period.

Similarly, Raymond James & Associates raised their position by 855.4% in the same quarter, bringing their total to 12,674,158 shares worth $2.19 billion after purchasing an additional 11,347,563 shares. Another remarkable increase was seen at International Assets Investment Management LLC, which increased its stake by an astonishing 226,130.5%, now holding 8,246,100 shares with a valuation of around $14.22 billion after acquiring 8,242,455 shares recently. Lastly, Jennison Associates LLC raised their position by 43.9% in the first quarter, resulting in 4,141,025 shares valued at about $5.49 billion.

In total, institutional investors and hedge funds own approximately 76.43% of Broadcom's stock.

Recent Analyst Ratings

Several analysts have provided updates on Broadcom's stock. Truist Financial recently increased their price target from $204.00 to $205.00 while maintaining a “buy” rating as of October 8th. Cantor Fitzgerald also raised their price target from $200.00 to $225.00, giving a rating of “overweight.” Oppenheimer adjusted their target down from $2,000.00 to $200.00 while rating the stock as an “outperform.” Additionally, Benchmark confirmed a “buy” rating, setting a price objective at $210.00.

Overall, the consensus among analysts is generally positive, with two rating the stock as a hold, twenty-four assigning a buy rating, and one giving a strong buy rating. According to MarketBeat, Broadcom currently has an average target price of $191.54 and carries a consensus rating of “Moderate Buy.”

Broadcom Stock Performance

On the trading day of Friday, shares of AVGO opened at $173.00. The company's moving averages show a 50-day average of $168.03 and a 200-day average of $154.41. Broadcom has seen a 52-week range where the stock hit a low of $81.83 and a high of $186.42. As of now, the market capitalization stands approximately at $805.29 billion, with a price-to-earnings (P/E) ratio of 7.44, a PEG ratio of 2.99, and a beta of 1.17. Broadcom's liquidity ratios show a quick ratio of 0.94 and a current ratio of 1.04, while the debt-to-equity ratio is at 1.02.

Broadcom’s most recent earnings report, released on September 5th, showed earnings per share (EPS) of $1.24, surpassing analysts’ expectations of $1.20. The company enjoyed a 30.12% return on equity and a net margin of 10.88%. Revenue for the quarter hit $13.07 billion, compared to a consensus of $12.98 billion, reflecting an increase of 47.3% from the same quarter last year. Analysts project an EPS of 3.78 for the current fiscal year.

Dividend Increase

Broadcom recently declared a quarterly dividend, which shareholders received on September 30th. Those on record as of September 19th qualified for a dividend of $0.53, translating into an annualized amount of $2.12 and a yield of 1.23%. This marks an increase from the previous dividend paid by the company. The ex-dividend date for this payment was September 19th, and currently, Broadcom has a dividend payout ratio of 9.12%.

Insider Trading Activity

In other news, there has been some insider trading activity recently. On September 19th, insider Charlie B. Kawwas sold 25,200 shares at an average price of $168.27, totaling approximately $4.24 million. Now, he retains 753,280 shares valued at about $126.75 million, indicating no significant change in his position. Furthermore, CEO Hock E. Tan sold 150,000 shares on September 24th at an average price of $172.94 for around $25.94 million. Post-sale, the CEO still holds 1,181,910 shares worth about $204.40 million, also showing no major change in ownership from this transaction. In total, within the past ninety days, insiders have sold 311,080 shares, valued at $53.54 million. Currently, insiders hold 2.00% of the company's stock.

About Broadcom

Broadcom Inc. specializes in designing, developing, and providing a wide range of semiconductor devices, focusing particularly on complex digital and mixed signal complementary metal oxide semiconductor devices as well as analog III-V products across the globe. The company operates through two main segments: Semiconductor Solutions and Infrastructure Software.

Investment, Stake, Broadcom