Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 40.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,124 shares of the semiconductor manufacturer's stock after purchasing an additional 1,776 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Broadcom were worth $1,025,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth $26,000. Inlight Wealth Management LLC acquired a new position in Broadcom during the first quarter worth $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom during the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the fourth quarter valued at about $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 1.8%

Shares of NASDAQ AVGO traded up $4.97 during mid-day trading on Friday, reaching $274.87. 10,592,655 shares of the company's stock were exchanged, compared to its average volume of 28,641,799. The company's 50-day moving average is $238.77 and its 200-day moving average is $217.22. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $277.71.

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

Broadcom announced that its Board of Directors has initiated a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

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

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares of the company's stock, valued at $129,540,070.44. The trade was a 7.65% 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 worth $221,433,761 in the last three months. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVGO. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Oppenheimer boosted their price objective on Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. increased their target price on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Finally, Mizuho boosted their price target on Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of "Buy" and a consensus target price of $281.46.

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.