Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,737,242 shares of the semiconductor manufacturer's stock after buying an additional 52,107 shares during the period. Broadcom comprises about 1.5% of Chevy Chase Trust Holdings LLC's holdings, making the stock its 11th largest position. Chevy Chase Trust Holdings LLC owned about 0.06% of Broadcom worth $458,296,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Sava Infond d.o.o. boosted its stake in shares of Broadcom by 9.0% during the first quarter. Sava Infond d.o.o. now owns 134,185 shares of the semiconductor manufacturer's stock valued at $22,467,000 after acquiring an additional 11,125 shares during the last quarter. LaFleur & Godfrey LLC grew its holdings in shares of Broadcom by 13.4% during the first quarter. LaFleur & Godfrey LLC now owns 88,775 shares of the semiconductor manufacturer's stock worth $14,864,000 after buying an additional 10,510 shares in the last quarter. Petros Family Wealth LLC raised its position in shares of Broadcom by 10.4% in the first quarter. Petros Family Wealth LLC now owns 2,814 shares of the semiconductor manufacturer's stock valued at $471,000 after buying an additional 266 shares during the last quarter. Keystone Financial Services lifted its stake in shares of Broadcom by 51.5% during the first quarter. Keystone Financial Services now owns 2,825 shares of the semiconductor manufacturer's stock valued at $473,000 after buying an additional 960 shares during the period. Finally, YHB Investment Advisors Inc. boosted its position in Broadcom by 5.2% during the first quarter. YHB Investment Advisors Inc. now owns 18,326 shares of the semiconductor manufacturer's stock worth $3,052,000 after acquiring an additional 912 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Rosenblatt Securities boosted their price target on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a report on Friday, June 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Evercore ISI reissued an "outperform" rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Benchmark upped their price target on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $281.25.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider now directly owns 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the sale, the director now directly owns 26,182 shares in the company, valued at $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,468 shares of company stock valued at $74,670,250. Insiders own 2.00% of the company's stock.

Broadcom Stock Up 2.1%

Shares of Broadcom stock traded up $5.52 during trading hours on Thursday, hitting $270.17. 23,540,196 shares of the company's stock traded hands, compared to its average volume of 29,153,635. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $271.62. The company has a market cap of $1.27 trillion, a PE ratio of 101.19, a PEG ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a 50 day simple moving average of $225.48 and a 200-day simple moving average of $213.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share 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 firm 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 EPS. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed 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 0.87%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom declared that its Board of Directors has approved a share buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Broadcom Company 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.