Bensler LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Bensler LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,680 shares of the semiconductor manufacturer's stock after buying an additional 3,338 shares during the period. Bensler LLC's holdings in Broadcom were worth $3,797,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the fourth quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom during the fourth quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom during the fourth quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom during the fourth quarter valued at $32,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 2.9%

NASDAQ:AVGO traded down $7.37 during mid-day trading on Friday, reaching $248.70. 19,002,301 shares of the company's stock traded hands, compared to its average volume of 30,540,402. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.43. The firm has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 202.86, a PEG ratio of 2.29 and a beta of 1.11. 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 company has a 50 day moving average price of $211.15 and a 200-day moving average price of $208.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the previous year, the business earned $10.96 EPS. Broadcom's revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.95%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom announced that its board has authorized a stock repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Truist Financial set a $295.00 price target on Broadcom and gave the stock a "buy" rating in a research note on Friday, June 6th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their price target on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, Benchmark lifted their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $272.71.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider now owns 789,784 shares in the company, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 730,576 shares of company stock worth $133,778,494. Company insiders own 2.00% of the company's stock.

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.