2,867 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Integrity Investment Advisors LLC

Integrity Investment Advisors LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,867 shares of the semiconductor manufacturer's stock, valued at approximately $480,000. Broadcom accounts for 0.4% of Integrity Investment Advisors LLC's investment portfolio, making the stock its 29th biggest holding.

Other large investors also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the first quarter worth $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom in the fourth quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom during the 4th quarter valued at $30,000. Finally, Wood Tarver Financial Group LLC lifted its position in shares of 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 purchasing an additional 137 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho lifted their target price on Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. UBS Group upped their target price on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Morgan Stanley boosted their price objective on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Finally, Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, June 6th. One equities 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 stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $292.08.

Broadcom Stock Up 1.7%

NASDAQ AVGO traded up $4.87 during trading hours on Monday, reaching $288.21. 17,706,689 shares of the company's stock were exchanged, compared to its average volume of 27,778,305. The company has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 107.94, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. Broadcom Inc. has a one year low of $128.50 and a one year high of $290.40. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company's 50-day moving average is $254.41 and its two-hundred day moving average is $220.17.

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

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.82%. Broadcom's payout ratio is 88.39%.

Broadcom declared that its board has initiated a share buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 830,516 shares of company stock valued at $217,224,641. Company insiders own 2.00% of the company's stock.

Broadcom Company Profile

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.