Broadcom Inc. (NASDAQ:AVGO) Position Raised by Financial Insights Inc.

Financial Insights Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 82.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,075 shares of the semiconductor manufacturer's stock after acquiring an additional 2,295 shares during the period. Financial Insights Inc.'s holdings in Broadcom were worth $850,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $26,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the first quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom in the 4th quarter valued at about $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the 4th quarter valued at about $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director now owns 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the sale, the chief executive officer now directly owns 1,014,152 shares in the company, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 811,716 shares of company stock valued at $209,906,771. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 0.3%

Shares of NASDAQ AVGO opened at $269.35 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average of $229.43 and a 200-day moving average of $215.75. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 100.88, a PEG ratio of 1.92 and a beta of 1.11. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $274.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the firm earned $10.96 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its board has approved a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

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 $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.88%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. Oppenheimer increased their target price on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. UBS Group lifted their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Citigroup lifted their price objective on shares of Broadcom from $276.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $281.25.

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.

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