Krilogy Financial LLC Has $3.31 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Krilogy Financial LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,791 shares of the semiconductor manufacturer's stock after buying an additional 3,274 shares during the quarter. Krilogy Financial LLC's holdings in Broadcom were worth $3,314,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SlateStone Wealth LLC boosted its stake in Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC raised its position in shares of Broadcom by 7.2% during the 4th 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 period. DT Investment Partners LLC lifted its holdings in shares of Broadcom by 0.9% in the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock worth $1,251,000 after purchasing an additional 50 shares during the last quarter. Bfsg LLC boosted its position in Broadcom by 12.5% during the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after purchasing an additional 50 shares during the period. Finally, Global Strategic Investment Solutions LLC grew its stake in Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock worth $782,000 after buying an additional 50 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVGO. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Finally, Oppenheimer boosted their price objective on Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Two investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $276.09.

Broadcom Trading Down 2.9%

NASDAQ AVGO traded down $7.37 on Friday, hitting $248.70. 19,002,301 shares of the company were exchanged, compared to its average volume of 30,540,431. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The firm has a market capitalization of $1.17 trillion, a P/E ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The company's 50 day moving average price is $213.01 and its 200-day moving average price is $209.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm posted $10.96 earnings per share. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

Broadcom declared that its Board of Directors has authorized a stock repurchase plan 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 plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider now directly owns 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 730,576 shares of company stock worth $133,778,494 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Broadcom 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.