YHB Investment Advisors Inc. Significantly Increases Stake in Broadcom Inc.

YHB Investment Advisors Inc. has made a remarkable increase in its investment in Broadcom Inc. (NASDAQ:AVGO), boosting its stake by an astonishing 1,068.5% during the third quarter. This information comes from the company’s most recent filing with the Securities and Exchange Commission (SEC). After purchasing an additional 10,001 shares during this period, YHB Investment Advisors now holds a total of 10,937 shares of the semiconductor giant. As per this latest disclosure, their investment in Broadcom is valued at approximately $1,887,000.

In addition to YHB Investment Advisors’ investment, several other prominent investors have also adjusted their holdings in Broadcom. Vanguard Group Inc. enhanced its stake by 3.0% during the first quarter, bringing its total to 44,651,273 shares, valued at about $59.18 billion, following the acquisition of an extra 1,303,462 shares. Similarly, Swedbank AB increased its holdings by 858.7% in the third quarter, owning now 18,369,841 shares valued at around $3.17 billion after purchasing an additional 16,453,718 shares during the same period.

Raymond James & Associates saw a 855.4% increase in its stake in Broadcom, acquiring 12,674,158 shares worth approximately $2.19 billion after adding an additional 11,347,563 shares. Another notable investor, International Assets Investment Management LLC, augmented its position significantly by 226,130.5%, now owning 8,246,100 shares valued at around $14.22 billion after buying an additional 8,242,455 shares. Jennison Associates LLC also raised its stake by 43.9% in the first quarter, bringing its total holdings to 4,141,025 shares worth about $5.49 billion. Cumulatively, institutional investors and hedge funds control 76.43% of Broadcom’s total shares.

Changes in Analyst Ratings

A variety of brokerages have recently updated their ratings for Broadcom. On October 8th, Truist Financial increased its price target on Broadcom from $204.00 to $205.00, maintaining a “buy” rating. Cantor Fitzgerald also raised its price target from $200.00 to $225.00, assigning an “overweight” rating to the stock. Oppenheimer decreased its price target from $2,000.00 to $200.00 but kept an “outperform” rating. Furthermore, William Blair commenced coverage of Broadcom in a report issued on September 18th, providing an “outperform” rating. Benchmark reiterated a “buy” rating with a price objective of $210.00 in a report on September 6th. Currently, two investment analysts have given a hold rating, while twenty-four analysts have a buy rating and one has assigned a strong buy rating. According to MarketBeat, Broadcom stock holds a consensus rating of “Moderate Buy” with an average target price of $191.54.

Broadcom’s Stock Performance

As of Friday, shares of Broadcom traded at $173.00. The company’s 50-day moving average stands at $168.03 while its 200-day moving average is $154.41. Broadcom has seen its shares fluctuate between a 52-week low of $81.83 and a high of $186.42. It currently has a market capitalization of $805.29 billion, with a price-to-earnings ratio of 7.44, a PEG ratio of 2.99, and a beta of 1.17. The firm reports a quick ratio of 0.94 and a current ratio of 1.04, alongside a debt-to-equity ratio of 1.02.

Broadcom recently announced its earnings results for the quarter on September 5th, reporting earnings per share (EPS) of $1.24, beating analysts’ estimates of $1.20 by $0.04. The company achieved revenue of $13.07 billion for the quarter, surpassing projections of $12.98 billion. Compared to the previous year, Broadcom experienced a 47.3% revenue growth.

Dividend Increase

Additionally, Broadcom declared a quarterly dividend that was paid out on September 30th. Shareholders on record as of September 19th received a dividend of $0.53, equating to an annualized dividend of $2.12 and a yield of 1.23%. This marks an increase from the previous quarterly dividend of $0.53, with an ex-dividend date also on September 19th. Broadcom’s current dividend payout ratio is 9.12%.

Insider Transactions

In insider news, Charlie B. Kawwas sold 25,200 shares of Broadcom on September 19th at an average price of $168.27, amounting to a total transaction value of $4,240,404. Following this sale, Kawwas retains ownership of 753,280 shares, valued at approximately $126.75 million. Additionally, CEO Hock E. Tan sold 150,000 shares on September 24th at an average price of $172.94, totaling approximately $25.94 million. Post-sale, he owns 1,181,910 shares valued at around $204.40 million. In recent months, insiders have sold a total of 311,080 shares of company stock worth about $53.54 million, and currently 2.00% of the stock is held by insiders.

About Broadcom

Broadcom Inc is a company that designs, develops, and supplies a wide range of semiconductor devices, focusing on complex digital and mixed-signal complementary metal-oxide-semiconductor (CMOS) devices and analog III-V based products internationally. Its operations are divided into two main segments: Semiconductor Solutions and Infrastructure Software.

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