2,736 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by TradeWell Securities LLC.

TradeWell Securities LLC. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,736 shares of the semiconductor manufacturer's stock, valued at approximately $458,000. Broadcom makes up 0.3% of TradeWell Securities LLC.'s holdings, making the stock its 29th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new position in Broadcom during the first quarter worth about $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom during the fourth quarter worth about $30,000. Finally, Wood Tarver Financial Group LLC boosted its holdings in Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after buying an additional 137 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 0.9%

AVGO stock opened at $271.80 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $242.02 and a two-hundred day moving average price of $217.92. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 101.80, a P/E/G ratio of 1.95 and a beta of 1.12. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $277.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $10.96 earnings per share. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its Board of Directors has approved a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.87%. Broadcom's dividend payout ratio is 88.39%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at $91,117,639.75. This represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 854,716 shares of company stock valued at $221,433,761. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Bank of America raised their target price on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Evercore ISI restated an "outperform" rating and set a $304.00 target price (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Citigroup raised their target price on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Monday. Rosenblatt Securities raised their target price on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average price target of $285.00.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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