Chilton Capital Management LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Chilton Capital Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,450.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 172,104 shares of the semiconductor manufacturer's stock after buying an additional 161,003 shares during the period. Broadcom comprises 1.2% of Chilton Capital Management LLC's portfolio, making the stock its 29th largest holding. Chilton Capital Management LLC's holdings in Broadcom were worth $28,815,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Vanguard Group Inc. raised its position in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after purchasing an additional 3,018,294 shares during the last quarter. FMR LLC grew its position in Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank bought a new position in shares of Broadcom during the 4th quarter valued at $16,893,010,000. Finally, Northern Trust Corp boosted its stake in shares of Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after buying an additional 5,258,925 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were 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 $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 854,716 shares of company stock valued at $221,433,761 over the last quarter. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Susquehanna increased their target price on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. UBS Group increased their price objective on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Tuesday, June 24th. Morgan Stanley lifted their price target on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $281.46.

Broadcom Price Performance

Shares of Broadcom stock traded up $1.78 during trading on Monday, reaching $276.96. 6,716,101 shares of the stock traded hands, compared to its average volume of 28,489,259. Broadcom Inc. has a 52-week low of $128.50 and a 52-week 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 business has a fifty day simple moving average of $238.77 and a two-hundred day simple moving average of $217.17. The company has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 103.68, a P/E/G ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during 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 firm's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $10.96 EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its board has authorized a share buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is 88.39%.

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.