Aljian Capital Management LLC Has $4.03 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Aljian Capital Management LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,065 shares of the semiconductor manufacturer's stock after acquiring an additional 1,512 shares during the period. Broadcom comprises 1.0% of Aljian Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Aljian Capital Management LLC's holdings in Broadcom were worth $4,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Inlight Wealth Management LLC acquired a new stake in shares of Broadcom in the 1st quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares of the company's stock, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 811,716 shares of company stock valued at $209,906,771 in the last three months. Company insiders own 2.00% of the company's stock.

Broadcom Stock Down 0.3%

AVGO opened at $269.35 on Monday. The company has a 50 day moving average of $229.43 and a 200 day moving average of $215.75. The company has a market cap of $1.27 trillion, a PE ratio of 100.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $273.83. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $10.96 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has approved a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 88.39%.

Analysts Set New Price Targets

Several research firms have commented on AVGO. Bank of America increased their price objective on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Mizuho increased their price objective on shares of Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom has a consensus rating of "Buy" and a consensus target price of $281.25.

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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