Financial Sense Advisors Inc. Buys 1,242 Shares of Broadcom Inc. (NASDAQ:AVGO)

Financial Sense Advisors Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 41.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,242 shares of the semiconductor manufacturer's stock after buying an additional 1,242 shares during the quarter. Financial Sense Advisors Inc.'s holdings in Broadcom were worth $710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at about $30,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $32,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $25,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $26,000. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AVGO shares. Barclays upped their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Mizuho upped their target price on shares of Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Rosenblatt Securities upped their price target on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Susquehanna upped their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Finally, Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus target price of $292.08.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $5.21 during trading hours on Thursday, hitting $288.90. 11,604,344 shares of the stock were exchanged, compared to its average volume of 27,225,816. 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 company has a market cap of $1.36 trillion, a PE ratio of 108.20, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12. The company's fifty day simple moving average is $257.70 and its two-hundred day simple moving average is $221.40. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $291.20.

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 business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $10.96 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.82%. Broadcom's dividend payout ratio is 88.39%.

Broadcom declared that its Board of Directors has approved a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,224,641 in the last three months. Company insiders own 2.00% of the company's stock.

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.