YHB Investment Advisors Increases Stake in Broadcom Inc.

YHB Investment Advisors Inc. has significantly increased its investment in Broadcom Inc. (NASDAQ:AVGO), raising its stake by an impressive 1,068.5% during the third quarter. According to the firm's latest submission to the Securities and Exchange Commission (SEC), YHB now holds a total of 10,937 shares in the semiconductor company after adding 10,001 shares during this period. The value of YHB Investment's holdings in Broadcom was reported to be approximately $1,887,000 based on the recent SEC filing.

In addition to YHB Investment Advisors, several other prominent investors have also made noteworthy changes to their positions in Broadcom shares. For instance, Vanguard Group Inc. raised its stake by 3.0% in the first quarter, acquiring an additional 1,303,462 shares. Vanguard now owns 44,651,273 shares, which have a market valuation of about $59.18 billion. Furthermore, Swedbank AB increased its holdings in Broadcom by an astounding 858.7% during the third quarter, taking ownership of 18,369,841 shares valued at approximately $3.17 billion after buying an additional 16,453,718 shares.

Raymond James & Associates also expanded its position, boosting its ownership by 855.4%. They now possess 12,674,158 shares worth around $2.19 billion after adding 11,347,563 shares. International Assets Investment Management LLC raised its stake dramatically by 226,130.5%, owning 8,246,100 shares valued at approximately $14.22 billion following an increase of 8,242,455 shares. Lastly, Jennison Associates LLC grew its investment by 43.9% during the first quarter, holding 4,141,025 shares worth about $5.49 billion.

Analyst Ratings Update

On the analyst front, several brokerage firms have recently updated their ratings for Broadcom. Truist Financial increased its price target from $204.00 to $205.00 and maintained a “buy” rating. Cantor Fitzgerald revised its price target from $200.00 to $225.00, also recommending an “overweight” rating. Meanwhile, Oppenheimer lowered its price target from $2,000.00 to $200.00, designating an “outperform” rating on the stock.

William Blair commenced coverage on Broadcom with an “outperform” rating on September 18. Furthermore, Benchmark affirmed a “buy” rating while setting a price target of $210.00 for the stock. Overall, there are two investment analysts who currently hold a hold rating, while twenty-four analysts have issued buy ratings and one has given a strong buy rating. MarketBeat indicates that the current consensus rating for Broadcom shares is “Moderate Buy” with an average target price of $191.54.

Broadcom’s Current Stock Performance

As for stock performance, shares of Broadcom opened at $173.00 on the Friday following the third quarter. The company's 50-day moving average stands at $168.03, and its 200-day moving average is $154.41. Broadcom has recorded a 52-week low of $81.83 and a 52-week high of $186.42. It boasts a market capitalization of $805.29 billion, a price-to-earnings (P/E) ratio of 7.44, a PEG ratio of 2.99, and a beta of 1.17. The firm has a quick ratio of 0.94, a current ratio of 1.04, and a debt-to-equity ratio of 1.02.

Broadcom Inc. announced its earnings results on September 5, revealing earnings per share (EPS) of $1.24 for the quarter. This surpassed the estimates, which predicted EPS of $1.20, by $0.04. The company reported a return on equity of 30.12% and a net margin of 10.88%. Revenue for the quarter hit $13.07 billion, compared to analyst expectations of $12.98 billion, representing a year-over-year growth of 47.3% for the quarterly revenue. Analysts anticipate that Broadcom Inc. will report an EPS of $3.78 for the current fiscal year.

Dividend Increase Announced by Broadcom

Broadcom also revealed a quarterly dividend recently, which was paid to shareholders on September 30. A dividend of $0.53 was provided to shareholders of record on September 19, corresponding to an annualized dividend of $2.12, resulting in a yield of 1.23%. This dividend marks an increase from its previous quarterly dividend, and the ex-dividend date was set for September 19. Broadcom’s current dividend payout ratio is 9.12%.

Insider Trading Activity

In insider trading news, Charlie B. Kawwas, an insider at Broadcom, sold 25,200 shares of the company on September 19 at an average price of $168.27. The total value of this transaction was approximately $4,240,404.00. Following this sale, Kawwas retains ownership of 753,280 shares, valued at around $126.75 million. Additionally, CEO Hock E. Tan sold 150,000 shares on September 24 at an average price of $172.94, totaling approximately $25,941,000.00. After this transaction, Tan holds 1,181,910 shares valued at about $204.40 million. In the past ninety days, insiders have sold a total of 311,080 shares valued at $53,540,590, and currently, insiders own about 2.00% of Broadcom’s stock.

Overview of Broadcom Inc.

Broadcom Inc. is engaged in the design, development, and supply of various semiconductor devices, focusing on complex digital and mixed signal complementary metal oxide semiconductor products and analog III-V based devices globally. The company's operations are categorized into two segments: Semiconductor Solutions and Infrastructure Software.

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