Firethorn Wealth Partners LLC Purchases 1,023 Shares of Broadcom Inc. (NASDAQ:AVGO)

Firethorn Wealth Partners LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,764 shares of the semiconductor manufacturer's stock after buying an additional 1,023 shares during the quarter. Firethorn Wealth Partners LLC's holdings in Broadcom were worth $630,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tallon Kerry Patrick bought a new position in Broadcom in the fourth quarter worth approximately $357,000. Capital & Planning LLC lifted its holdings in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after purchasing an additional 554 shares in the last quarter. LaFleur & Godfrey LLC lifted its holdings in shares of Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after purchasing an additional 12,345 shares in the last quarter. Brighton Jones LLC grew its position in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Broadcom during the 4th quarter valued at $71,312,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 0.4%

Shares of Broadcom stock traded down $1.15 on Thursday, hitting $259.93. The stock had a trading volume of 41,745,758 shares, compared to its average volume of 30,922,784. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The stock's 50-day simple moving average is $200.31 and its two-hundred day simple moving average is $205.00. The stock has a market cap of $1.22 trillion, a price-to-earnings ratio of 212.02, a PEG ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.24). Broadcom had a net margin of 11.43% and a return on equity of 28.00%. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.91%. Broadcom's dividend payout ratio is currently 113.46%.

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

Wall Street Analyst Weigh In

A number of research analysts have 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 research note on Wednesday, April 16th. Barclays decreased their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $246.00.

Insider Activity

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. This trade represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock worth $131,249,694 in the last quarter. 2.00% of the stock is owned by company insiders.

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.