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Broadcom Inc. (NASDAQ:AVGO) Shares Bought by GF Fund Management CO. LTD.

Broadcom logo with Computer and Technology background

GF Fund Management CO. LTD. raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 794,592 shares of the semiconductor manufacturer's stock after buying an additional 1,800 shares during the quarter. Broadcom makes up about 3.1% of GF Fund Management CO. LTD.'s investment portfolio, making the stock its 6th largest holding. GF Fund Management CO. LTD.'s holdings in Broadcom were worth $133,039,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the 1st quarter valued at $25,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $26,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom in the first quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom during the fourth quarter valued at approximately $30,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Rosenblatt Securities increased their price objective on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a report on Friday, June 6th. Morgan Stanley raised their target price on shares of Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Barclays raised their target price on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Finally, Wells Fargo & Company lifted their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. 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, the company presently has a consensus rating of "Buy" and an average price target of $282.71.

View Our Latest Stock Analysis on Broadcom

Broadcom Price Performance

NASDAQ:AVGO traded down $1.00 during mid-day trading on Monday, reaching $274.18. 16,743,337 shares of the company were exchanged, compared to its average volume of 28,527,862. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $277.71. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average of $240.40 and a 200 day moving average of $217.54. The stock has a market cap of $1.29 trillion, a PE ratio of 102.69, a PEG ratio of 1.96 and a beta of 1.12.

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, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $10.96 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 0.86%. Broadcom's dividend payout ratio is currently 88.39%.

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

Insider Activity

In other news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the transaction, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 854,716 shares of company stock valued at $221,433,761. Insiders own 2.00% of the company's stock.

Broadcom Profile

(Free Report)

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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