Advyzon Investment Management LLC Purchases 3,594 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Advyzon Investment Management LLC increased its stake in Broadcom Inc. by 108.2% during the first quarter, now owning a total of 6,916 shares worth approximately $1.16 million.
• Broadcom recently reported $15 billion in revenue for the quarter, exceeding analysts' estimates, with a significant year-over-year revenue increase of 20.2%.
• The company has authorized a $10 billion stock buyback plan, indicating a belief among leadership that its stock is currently undervalued.

Advyzon Investment Management LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 108.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,916 shares of the semiconductor manufacturer's stock after buying an additional 3,594 shares during the quarter. Advyzon Investment Management LLC's holdings in Broadcom were worth $1,158,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new stake in Broadcom in the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter worth about $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $25,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Up 3.0%

Shares of NASDAQ AVGO traded up $8.74 during trading hours on Wednesday, hitting $301.67. The company's stock had a trading volume of 17,275,421 shares, compared to its average volume of 17,267,806. 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 stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 112.99, a P/E/G ratio of 2.08 and a beta of 1.15. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $306.95. The business has a 50-day simple moving average of $269.08 and a 200-day simple moving average of $225.39.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $274.30, for a total transaction of $219,440.00. Following the completion of the transaction, the director directly owned 24,582 shares of the company's stock, valued at $6,742,842.60. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 over the last three months. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Truist Financial set a $295.00 price objective on Broadcom and gave the stock a "buy" rating in a research note on Friday, June 6th. UBS Group increased their price target on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Benchmark increased their price objective on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus price target of $294.92.

Broadcom 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.