YHB Investment Advisors Boosts Stake in Broadcom Inc.

YHB Investment Advisors Inc. has significantly increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by a remarkable 1,068.5% during the third quarter, as reported in the company's latest filing with the Securities & Exchange Commission. Following this enhancement, YHB now owns 10,937 shares of the semiconductor giant, having acquired an additional 10,001 shares in the process. As of the latest filing, YHB Investment Advisors holds shares worth approximately $1,887,000.

Several other investment firms have also adjusted their positions in Broadcom, indicating a strong interest in the stock. For instance, Vanguard Group Inc. increased its stake by 3.0% during the first quarter, owning 44,651,273 shares currently valued at about $59.18 billion after acquiring an extra 1,303,462 shares. Similarly, Swedbank AB raised its stake by an impressive 858.7% in the third quarter, now holding 18,369,841 shares valued at $3.17 billion following a purchase of 16,453,718 additional shares. Raymond James & Associates also increased their stake by 855.4% and now owns 12,674,158 shares valued at $2.19 billion after acquiring 11,347,563 shares.

International Assets Investment Management LLC made an astounding increase of 226,130.5% in their stake during the same quarter, now owning 8,246,100 shares worth $14.22 billion, following a purchase of 8,242,455 shares. Moreover, Jennison Associates LLC upgraded its holdings by 43.9% in the first quarter and currently possesses 4,141,025 shares valued at $5.49 billion after acquiring an extra 1,263,957 shares. Collectively, institutional investors and hedge funds now own approximately 76.43% of Broadcom's stock.

Changes in Analyst Ratings

Several brokerages have recently updated their ratings for Broadcom. Truist Financial raised its price target from $204.00 to $205.00 while maintaining a “buy” rating on the stock. Cantor Fitzgerald also increased its target, setting it at $225.00 with a rating of “overweight.” Conversely, Oppenheimer lowered its price target from $2,000.00 to $200.00, while still giving the stock an “outperform” rating. William Blair initiated coverage on Broadcom with an “outperform” rating, and Benchmark reiterated a “buy” rating with a price objective of $210.00. According to MarketBeat, the stock holds a consensus rating of “Moderate Buy” with an average target price of $191.54.

Broadcom Stock Performance Overview

As of recent trading, shares of Broadcom opened at $173.00. The company’s 50-day moving average stands at $168.03, while the 200-day moving average is $154.41. Over the past year, Broadcom shares have fluctuated between a low of $81.83 and a high of $186.42. Currently, Broadcom Inc. has a market capitalization of $805.29 billion, a price-to-earnings ratio of 7.44, and a PEG ratio of 2.99. The debt-to-equity ratio is recorded at 1.02, and the current ratio is 1.04.

Broadcom recently reported its earnings results on September 5th, where it posted earnings per share (EPS) of $1.24, surpassing the analysts' expectations of $1.20. The company's revenue for the quarter was reported at $13.07 billion, exceeding analyst estimates of $12.98 billion, marking a 47.3% increase year-over-year. Analysts predict that Broadcom Inc. will achieve an EPS of 3.78 for the current fiscal year.

Dividend Announcement

Recently, Broadcom declared its quarterly dividend, which was distributed on September 30th. Shareholders on record as of September 19th received a $0.53 dividend, translating to an annualized yield of 1.23%. This is a positive development from the previous dividend of the same amount. The ex-dividend date was also set for September 19th, with the dividend payout ratio currently at 9.12%.

Insider Transactions

In insider news, Charlie B. Kawwas, an insider, sold 25,200 shares of Broadcom on September 19th at an average price of $168.27, a transaction amounting to $4,240,404. After the sale, he retains 753,280 shares valued at around $126.75 million, reflecting no change in his ownership percentage. Additionally, CEO Hock E. Tan sold 150,000 shares on September 24th at an average price of $172.94, totaling $25,941,000. After this transaction, he owns 1,181,910 shares valued at approximately $204.40 million. Over the last three months, insiders have sold a total of 311,080 shares for $53,540,590, with insiders currently holding 2.00% of the company’s stock.

About Broadcom Inc.

Broadcom Inc. is engaged in designing and manufacturing a range of semiconductor devices, focusing on both digital and mixed signal complementary metal oxide semiconductor products, as well as analog III-V based offerings across the globe. The company operates through two primary segments: Semiconductor Solutions and Infrastructure Software.

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