Broadcom Inc. $AVGO Shares Acquired by M Holdings Securities Inc.

Key Points

• M Holdings Securities Inc. increased its stake in Broadcom by 13.6% in the first quarter, owning 16,138 shares valued at approximately $2.7 million.
• Analysts are optimistic about Broadcom's future, with several brokerages setting new price targets; Morgan Stanley at $338 and Evercore ISI at $304, emphasizing a consensus rating of "Buy."
• Insiders have sold a total of 830,516 shares in the last three months, raising concerns as they now hold just 2.00% of the company's stock.

M Holdings Securities Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,138 shares of the semiconductor manufacturer's stock after acquiring an additional 1,934 shares during the period. M Holdings Securities Inc.'s holdings in Broadcom were worth $2,702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter worth $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at approximately $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at approximately $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. Morgan Stanley set a $338.00 target price on Broadcom and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company lifted their price target on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Redburn Atlantic began coverage on shares of Broadcom in a report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target for the company. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Sunday. Finally, Evercore ISI reiterated an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $295.96.

Broadcom Price Performance

AVGO stock opened at $306.34 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35. The firm has a market cap of $1.44 trillion, a P/E ratio of 114.73, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. The stock has a 50-day simple moving average of $278.27 and a 200-day simple moving average of $229.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its 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 35.49% and a net margin of 22.64%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter last year, the firm earned $10.96 earnings per share. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio is currently 88.39%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm'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 sale, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,286,457 in the last three months. 2.00% of the stock is currently owned by company insiders.

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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