Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Axecap Investments LLC

Axecap Investments LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,668 shares of the semiconductor manufacturer's stock after buying an additional 4,005 shares during the quarter. Broadcom accounts for about 4.1% of Axecap Investments LLC's portfolio, making the stock its 4th largest position. Axecap Investments LLC's holdings in Broadcom were worth $4,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Broadcom during the fourth quarter worth $32,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Oppenheimer raised their price objective on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Wells Fargo & Company increased their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Rosenblatt Securities increased their price objective on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $272.71.

Broadcom Stock Up 1.2%

AVGO stock traded up $3.16 during mid-day trading on Thursday, reaching $256.07. The company had a trading volume of 20,362,986 shares, compared to its average volume of 30,820,128. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a 50 day simple moving average of $209.12 and a two-hundred day simple moving average of $207.94. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 208.87, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period last year, the firm posted $10.96 earnings per share. The business's revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Broadcom announced that its board has authorized a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last quarter. 2.00% of the stock is currently owned by insiders.

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.