Broadcom Inc. (NASDAQ:AVGO) Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 44.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,153 shares of the semiconductor manufacturer's stock after acquiring an additional 11,377 shares during the period. KMG Fiduciary Partners LLC's holdings in Broadcom were worth $6,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SlateStone Wealth LLC lifted its position in 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 lifted its position in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after buying an additional 48 shares in the last quarter. DT Investment Partners LLC increased its stake in shares of Broadcom by 0.9% during 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 increased its stake in shares of Broadcom by 12.5% during the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock worth $105,000 after purchasing an additional 50 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC increased its stake in shares of 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 purchasing an additional 50 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now directly owns 26,182 shares of the company's stock, valued at $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Rosenblatt Securities increased their price target on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday. Citigroup restated a "buy" rating and set a $276.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Tuesday, June 3rd. 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. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday. Finally, Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $270.25.

Broadcom Stock Performance

NASDAQ AVGO opened at $246.95 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 201.43, a P/E/G ratio of 2.29 and a beta of 1.11. The company's fifty day moving average is $203.73 and its two-hundred day moving average is $206.52. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43.

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

Broadcom declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 113.46%.

Broadcom Company 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.

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