Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Graphene Investments SAS

Graphene Investments SAS increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 128.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,300 shares of the semiconductor manufacturer's stock after buying an additional 15,900 shares during the quarter. Broadcom accounts for approximately 3.5% of Graphene Investments SAS's holdings, making the stock its 5th largest holding. Graphene Investments SAS's holdings in Broadcom were worth $4,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $26,000. Inlight Wealth Management LLC bought a new position in Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the fourth quarter worth $30,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America raised their price objective on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Susquehanna lifted their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Benchmark increased their price objective on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus target price of $281.25.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $270.17 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The business's 50 day moving average price is $227.46 and its two-hundred day moving average price is $214.61. The company has a market cap of $1.27 trillion, a PE ratio of 101.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $271.67.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the previous year, the company posted $10.96 EPS. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

Broadcom declared that its board has approved a share buyback 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 reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the transaction, the chief financial officer now owns 325,587 shares in the company, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the sale, the insider now owns 465,956 shares of the company's stock, valued at $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,818 shares of company stock worth $84,167,415. 2.00% of the stock is owned by insiders.

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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