Broadcom Inc. (NASDAQ:AVGO) is Bowman & Co S.C.'s 9th Largest Position

Bowman & Co S.C. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,624 shares of the semiconductor manufacturer's stock after buying an additional 1,309 shares during the quarter. Broadcom makes up approximately 2.4% of Bowman & Co S.C.'s investment portfolio, making the stock its 9th biggest holding. Bowman & Co S.C.'s holdings in Broadcom were worth $4,793,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC boosted its stake in Broadcom by 15.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 111,475 shares of the semiconductor manufacturer's stock valued at $18,664,000 after acquiring an additional 15,178 shares in the last quarter. Burr Financial Services LLC boosted its stake in Broadcom by 30.7% in the first quarter. Burr Financial Services LLC now owns 31,419 shares of the semiconductor manufacturer's stock valued at $5,260,000 after acquiring an additional 7,382 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in Broadcom by 3.2% in the first quarter. Cerro Pacific Wealth Advisors LLC now owns 19,138 shares of the semiconductor manufacturer's stock valued at $3,204,000 after acquiring an additional 601 shares in the last quarter. Veery Capital LLC boosted its stake in Broadcom by 8.7% in the first quarter. Veery Capital LLC now owns 1,665 shares of the semiconductor manufacturer's stock valued at $279,000 after acquiring an additional 133 shares in the last quarter. Finally, IVC Wealth Advisors LLC boosted its stake in Broadcom by 33.0% in the first quarter. IVC Wealth Advisors LLC now owns 3,452 shares of the semiconductor manufacturer's stock valued at $578,000 after acquiring an additional 856 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AVGO shares. Bank of America dropped their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Truist Financial boosted their price target on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Mizuho lifted their target price on Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Finally, Barclays cut their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $246.00.

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock traded up $2.85 on Wednesday, hitting $259.70. The company's stock had a trading volume of 19,129,461 shares, compared to its average volume of 30,800,326. The company has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 211.83, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a fifty day moving average price of $198.47 and a 200-day moving average price of $204.62.

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

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.