Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Hillman Co.

Hillman Co. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,609 shares of the semiconductor manufacturer's stock after buying an additional 9,759 shares during the period. Broadcom makes up 5.5% of Hillman Co.'s holdings, making the stock its 10th biggest position. Hillman Co.'s holdings in Broadcom were worth $14,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. SlateStone Wealth LLC lifted its holdings in shares of Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC increased its position in Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after purchasing an additional 48 shares during the last quarter. Global Strategic Investment Solutions LLC boosted its holdings in shares of Broadcom by 1.5% in the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after purchasing an additional 50 shares during the last quarter. Cascade Financial Partners LLC grew its stake in shares of Broadcom by 1.8% during the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock valued at $668,000 after buying an additional 50 shares during the period. Finally, Samalin Investment Counsel LLC increased its holdings in shares of Broadcom by 1.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after buying an additional 50 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVGO. Citigroup lifted their target price on Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday, June 9th. Wall Street Zen downgraded Broadcom from a "buy" rating to a "hold" rating in a report on Sunday, June 15th. Redburn Atlantic assumed coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price for the company. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Susquehanna boosted their price objective on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $281.25.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is owned by insiders.

Broadcom Trading Up 2.3%

AVGO opened at $275.65 on Tuesday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market capitalization of $1.30 trillion, a PE ratio of 103.24, a P/E/G ratio of 1.92 and a beta of 1.11. The firm's fifty day moving average price is $231.62 and its 200 day moving average price is $216.10.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.96 EPS. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom announced that its Board of Directors has authorized a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are 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.

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