Stanley Laman Group Ltd. Purchases 1,330 Shares of Broadcom Inc. (NASDAQ:AVGO)

Stanley Laman Group Ltd. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,479 shares of the semiconductor manufacturer's stock after acquiring an additional 1,330 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Broadcom were worth $2,592,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Canton Hathaway LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter worth $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the fourth quarter worth about $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in Broadcom during the fourth quarter worth about $32,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. KeyCorp lifted their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Evercore ISI restated an "outperform" rating and set a $304.00 price target (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Finally, Redburn Atlantic initiated coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective for the company. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $276.09.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the sale, the insider now owns 789,784 shares in the company, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 730,576 shares of company stock valued at $133,778,494. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 1.4%

Broadcom stock traded up $3.40 during mid-day trading on Monday, hitting $252.10. The company's stock had a trading volume of 20,230,908 shares, compared to its average volume of 30,342,953. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43. The company has a market cap of $1.19 trillion, a PE ratio of 205.63, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. 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's 50 day moving average is $213.01 and its 200 day moving average is $209.85.

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 analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the prior year, the firm earned $10.96 earnings per share. The firm's revenue was up 20.2% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 0.94%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

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