Broadcom Inc. (NASDAQ:AVGO) Holdings Boosted by Family Capital Management Inc.

Family Capital Management Inc. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 39.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,962 shares of the semiconductor manufacturer's stock after purchasing an additional 1,127 shares during the period. Family Capital Management Inc.'s holdings in Broadcom were worth $663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom in the fourth quarter valued at $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom during the fourth quarter worth about $30,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom in the 4th quarter worth about $32,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter valued at about $25,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Susquehanna increased their price target 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Tuesday, June 24th. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $282.71.

Insider Buying and Selling

In other news, Director Henry Samueli sold 473,898 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 0.4%

AVGO traded down $1.00 on Monday, reaching $274.18. The company's stock had a trading volume of 16,743,337 shares, compared to its average volume of 28,527,821. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $277.71. The business's 50 day moving average is $238.77 and its 200 day moving average is $217.17. 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 cap of $1.29 trillion, a price-to-earnings ratio of 102.69, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The company 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 business's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $10.96 EPS. As a group, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom announced that its board has authorized a stock repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.