First Business Financial Services Inc. Has $6.86 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

First Business Financial Services Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,983 shares of the semiconductor manufacturer's stock after buying an additional 2,930 shares during the period. Broadcom accounts for approximately 0.7% of First Business Financial Services Inc.'s investment portfolio, making the stock its 16th largest holding. First Business Financial Services Inc.'s holdings in Broadcom were worth $6,862,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its position in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after buying an additional 48 shares during the period. Samalin Investment Counsel LLC increased its position in Broadcom by 1.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after buying an additional 50 shares during the period. Mizuho Bank Ltd. increased its position in Broadcom by 7.1% in the fourth quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock worth $174,000 after buying an additional 50 shares during the period. Fulton Breakefield Broenniman LLC increased its position in Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock worth $357,000 after buying an additional 50 shares during the period. Finally, American Financial Advisors LLC increased its position in Broadcom by 3.8% in the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock worth $240,000 after buying an additional 52 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares in the company, valued at $256,489,182.32. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider owned 415,956 shares of the company's stock, valued at $105,353,335.68. This trade represents a 10.73% 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 over the last three months. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Wells Fargo & Company raised their price target on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. Oppenheimer raised their price target on Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Finally, UBS Group raised their price target on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $292.08.

Broadcom Price Performance

NASDAQ:AVGO traded down $0.13 during mid-day trading on Wednesday, reaching $280.81. 15,016,636 shares of the stock were exchanged, compared to its average volume of 28,007,422. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $283.36. The firm has a market capitalization of $1.32 trillion, a PE ratio of 105.17, a PEG ratio of 2.00 and a beta of 1.12. The business has a fifty day moving average price of $251.34 and a 200 day moving average price of $219.63.

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

Broadcom announced that its Board of Directors has approved a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a $0.59 dividend. 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 0.84%. Broadcom's dividend payout ratio (DPR) is 88.39%.

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.