Milestone Asset Management LLC Has $188,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Milestone Asset Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 303.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,625 shares of the semiconductor manufacturer's stock after acquiring an additional 3,479 shares during the period. Milestone Asset Management LLC's holdings in Broadcom were worth $188,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Marest Capital LLC raised its holdings in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after buying an additional 46 shares in the last quarter. SlateStone Wealth LLC raised its holdings in shares of Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after buying an additional 47 shares in the last quarter. True Wealth Design LLC grew its position in 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 acquiring an additional 48 shares during the last quarter. DT Investment Partners LLC increased its holdings in Broadcom by 0.9% during the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock valued at $1,251,000 after purchasing an additional 50 shares in the last quarter. Finally, Bfsg LLC increased its holdings 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 in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays dropped their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Susquehanna raised their price target on Broadcom from $250.00 to $280.00 and gave the company a "positive" rating in a report on Thursday, May 29th. Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Mizuho raised their price target on Broadcom from $250.00 to $300.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Finally, Bank of America dropped their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $246.00.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Up 1.6%

AVGO stock traded up $4.23 during midday trading on Wednesday, hitting $261.08. 31,461,945 shares of the company's stock were exchanged, compared to its average volume of 30,845,922. The stock's fifty day moving average price is $198.47 and its 200-day moving average price is $204.62. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market cap of $1.23 trillion, a PE ratio of 212.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.31.

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