YHB Investment Advisors Inc. Increases Stake in Broadcom Inc.

YHB Investment Advisors Inc. significantly increased its investment in Broadcom Inc. (NASDAQ: AVGO) by an impressive 1,068.5% in the third quarter, as reported in the company's latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 10,001 shares during this period, YHB Investment Advisors now holds a total of 10,937 shares in the semiconductor manufacturer. The value of these holdings stands at approximately $1,887,000 based on the most recent SEC disclosure.

Several other institutional investors have also made noteworthy adjustments to their positions in Broadcom. For instance, Vanguard Group Inc. increased its stake by 3.0% during the first quarter, now owning 44,651,273 shares valued at about $59.18 billion after purchasing an additional 1,303,462 shares in the previous quarter. Similarly, Swedbank AB lifted its stake by an astonishing 858.7% in the third quarter. Swedbank now owns 18,369,841 shares worth approximately $3.17 billion, following the acquisition of over 16.45 million additional shares during the same timeframe.

Additionally, Raymond James & Associates raised their holdings in Broadcom by 855.4% in the third quarter, bringing their total ownership to 12,674,158 shares valued at around $2.19 billion after buying 11,347,563 extra shares. International Assets Investment Management LLC made an even more dramatic increase, growing its stake by a staggering 226,130.5%, now possessing 8,246,100 shares worth about $14.22 billion after adding approximately 8.24 million shares. Jennison Associates LLC also grew its stake by 43.9% in the first quarter, owning 4,141,025 shares valued at approximately $5.49 billion. In total, institutional investors and hedge funds now control about 76.43% of Broadcom's stock.

Recent Analyst Ratings

Several analysts have revised their outlook and price targets for Broadcom shares. Truist Financial raised its price target from $204.00 to $205.00 and assigned a "buy" rating in a note on October 8th. Cantor Fitzgerald set a new price target of $225.00, also rating the stock as "overweight" on the same date. Oppenheimer adjusted its price target down from $2,000.00 to $200.00 but maintained an "outperform" rating for the shares. Additionally, William Blair has started covering Broadcom with an "outperform" rating as of September 18th. Furthermore, Benchmark reiterated a "buy" rating with a price objective of $210.00 in a report published on September 6th. Currently, the consensus rating for Broadcom is a "Moderate Buy," with an average price target of $191.54 according to MarketBeat.

Broadcom's Stock Performance

As of last Friday, Broadcom shares opened at $173.00. The company's stock has a 50-day moving average of $168.03 and a 200-day moving average of $154.41. Over the last year, the stock has seen a low of $81.83 and a high of $186.42, bringing its market capitalization to approximately $805.29 billion. Broadcom's price-to-earnings ratio is recorded at 7.44, with a PEG ratio of 2.99 and a beta of 1.17, indicating some volatility. The company’s quick ratio is 0.94, and the current ratio stands at 1.04, while its debt-to-equity ratio is 1.02.

Broadcom announced its latest earnings on September 5th, where it reported earnings of $1.24 per share (EPS), surpassing analysts’ expectations of $1.20 by a margin of $0.04. The company achieved a return on equity of 30.12% with a net margin of 10.88%. Its revenue for the quarter was $13.07 billion, exceeding estimates of $12.98 billion and marking a year-over-year increase of 47.3%. Analysts predict that Broadcom will report an EPS of $3.78 for the current fiscal year.

Dividend Announcement

Recently, Broadcom declared a quarterly dividend, which was distributed on September 30th. Shareholders who were on record as of September 19th received a dividend of $0.53, resulting in an annualized dividend of $2.12 and a yield of 1.23%. This reflects an increase from their prior quarterly dividend of $0.53. The ex-dividend date was set for September 19th, with a dividend payout ratio currently at 9.12%.

Insider Transactions

In insider news, Charlie B. Kawwas, one of the insiders, sold 25,200 shares of Broadcom on September 19th in a transaction worth $4,240,404, with an average sale price of $168.27 per share. Post-sale, Kawwas retains ownership of 753,280 shares valued at approximately $126.75 million. CEO Hock E. Tan also sold stock, offloading 150,000 shares on September 24th for a total of $25,941,000 at an average price of $172.94. Tan's current direct ownership amounts to 1,181,910 shares, valued at around $204.40 million. Over the past ninety days, insiders have sold approximately 311,080 shares for a total consideration of $53,540,590, with insider ownership currently at 2.00% of the total shares.

About Broadcom

Broadcom Inc. is a global leader in designing, developing, and supplying a variety of semiconductor devices. The company's focus includes complex digital and mixed-signal complementary metal-oxide semiconductor (CMOS) devices as well as analog III-V based products. Broadcom operates primarily in two segments: Semiconductor Solutions and Infrastructure Software.

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