YHB Investment Advisors Increases Stake in Broadcom Inc.

YHB Investment Advisors Inc. has significantly increased its investment in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,068.5% in the third quarter, as reported in their latest filing with the Securities and Exchange Commission. After purchasing an additional 10,001 shares, the fund now holds a total of 10,937 shares of the semiconductor manufacturer. The total value of YHB Investment Advisors' holdings in Broadcom amounts to approximately $1,887,000 based on their recent disclosures.

Other institutional investors have also changed their positions in Broadcom. For instance, Vanguard Group Inc. raised its stake in Broadcom by 3.0% in the first quarter. Following this increase, Vanguard now owns 44,651,273 shares valued at around $59.18 billion after acquiring an additional 1,303,462 shares in the last quarter. Similarly, Swedbank AB increased its holdings by a whopping 858.7% in the third quarter, now holding 18,369,841 shares worth approximately $3.17 billion after acquiring 16,453,718 additional shares. Another significant investor, Raymond James & Associates, added 12,674,158 shares to its portfolio, marking an 855.4% increase in the same period, bringing the total value to $2.19 billion following a purchase of 11,347,563 shares. Additionally, International Assets Investment Management LLC made an astounding 226,130.5% increase in their position by acquiring 8,242,455 shares, totaling 8,246,100 shares valued at around $14.22 billion. Lastly, Jennison Associates LLC also raised its stake by 43.9% in the first quarter, owning 4,141,025 shares valued at about $5.49 billion after adding 1,263,957 shares. Altogether, institutional investors and hedge funds currently hold 76.43% of the company’s shares.

Changes in Analyst Ratings

Several analyst firms have provided updates on Broadcom (AVGO) recently. Truist Financial raised their price target for the stock from $204.00 to $205.00, giving it a “buy” rating as of October 8th. Meanwhile, Cantor Fitzgerald increased their target from $200.00 to $225.00, also rating it “overweight.” Oppenheimer has adjusted its price target downward from $2,000.00 to $200.00, while maintaining an “outperform” rating. On September 18th, William Blair initiated coverage on Broadcom with an “outperform” rating. Benchmark reiterated its “buy” rating with a price objective of $210.00 on September 6th. Overall, while a few analysts have rated the stock as a hold, the consensus shows 24 analysts suggesting a buy, while one indicates a strong buy, leading to a general consensus rating of “Moderate Buy” and an average target price of $191.54 according to MarketBeat.

Broadcom's Stock Performance

As for Broadcom’s current stock performance, shares opened at $173.00 on the market recently. The company’s 50-day moving average is recorded at $168.03, while its 200-day moving average stands at $154.41. Broadcom has experienced a 52-week low of $81.83 and a peak of $186.42. The company’s market capitalization is approximately $805.29 billion, with a price-to-earnings ratio of 7.44 and a PEG ratio of 2.99. With regards to liquidity, Broadcom reports a quick ratio of 0.94 and a current ratio of 1.04, along with a debt-to-equity ratio of 1.02.

On September 5th, Broadcom released its earnings results, reporting earnings per share of $1.24, which surpassed analysts’ expectations of $1.20 by $0.04. The company recorded a return on equity of 30.12% and a net margin of 10.88%. Its revenue for the quarter amounted to $13.07 billion, exceeding the analyst prediction of $12.98 billion, marking a 47.3% increase compared to the same quarter last year. Analysts predict Broadcom will post an EPS of 3.78 for the current fiscal year.

Dividend Increase

Broadcom has also made headlines with its recent dividend announcement. The company paid a quarterly dividend of $0.53 on September 30th to shareholders who were on record as of September 19th. This figure translates to an annualized dividend of $2.12, resulting in a dividend yield of 1.23%. This marks a positive adjustment from Broadcom’s previous quarterly dividend of $0.53, with a current dividend payout ratio of 9.12%.

Insider Trading Activities

In other news regarding insider activity, Charlie B. Kawwas, an insider at Broadcom, sold 25,200 shares on September 19th at an average price of $168.27, a transaction totaling $4,240,404. Following this sale, he now owns 753,280 shares valued at approximately $126,754,425. Additionally, CEO Hock E. Tan sold 150,000 shares on September 24th at an average price of $172.94, a transaction amounting to $25,941,000, leaving him with 1,181,910 shares valued at around $204,399,515. Over the last ninety days, insiders have sold shares worth $53,540,590. Currently, insiders hold 2.00% of the company's stock.

About Broadcom Inc.

Broadcom Inc. is a technology company that designs and manufactures a variety of semiconductor devices. Their main focus includes complex digital and mixed-signal complementary metal oxide semiconductor (CMOS) devices and analog III-V-based products. They operate mainly in two segments: Semiconductor Solutions and Infrastructure Software.

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