Berbice Capital Management LLC Buys 1,040 Shares of Broadcom Inc. (NASDAQ:AVGO)

Berbice Capital Management LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,240 shares of the semiconductor manufacturer's stock after buying an additional 1,040 shares during the period. Broadcom makes up 4.7% of Berbice Capital Management LLC's portfolio, making the stock its 7th biggest position. Berbice Capital Management LLC's holdings in Broadcom were worth $5,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. SlateStone Wealth LLC lifted its stake in shares of Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC lifted its stake in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares during the period. Samalin Investment Counsel LLC lifted its stake in shares of Broadcom by 1.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after acquiring an additional 50 shares during the period. Mizuho Bank Ltd. lifted its stake in shares of Broadcom by 7.1% in the fourth quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock worth $174,000 after acquiring an additional 50 shares during the period. Finally, American Financial Advisors LLC lifted its stake in Broadcom by 3.8% in the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. KeyCorp boosted their price target on Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Redburn Atlantic assumed coverage on Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target on the stock. Finally, Susquehanna boosted their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $290.21.

Broadcom Trading Down 0.4%

Shares of Broadcom stock opened at $274.38 on Friday. The stock has a fifty day simple moving average of $246.70 and a 200 day simple moving average of $218.87. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $281.18. The company has a market capitalization of $1.29 trillion, a P/E ratio of 102.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. 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 announced its quarterly 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. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the prior year, the company posted $10.96 earnings per share. Broadcom's revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.86%. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

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

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director 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 SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the sale, the chief executive officer owned 482,836 shares of the company's stock, valued at $129,540,070.44. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 829,716 shares of company stock valued at $216,933,761 in the last three months. Insiders own 2.00% of the company's stock.

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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