Kovack Advisors Inc. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Kovack Advisors Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,160 shares of the semiconductor manufacturer's stock after acquiring an additional 1,780 shares during the quarter. Kovack Advisors Inc.'s holdings in Broadcom were worth $6,054,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its stake in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in Broadcom by 16.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after acquiring an additional 31,225 shares during the period. Highview Capital Management LLC DE increased its position in Broadcom by 1.3% during the 4th quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock worth $5,917,000 after buying an additional 322 shares during the period. Finally, Murphy & Mullick Capital Management Corp bought a new position in Broadcom during the 4th quarter worth $3,108,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of the 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 owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,224,641 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO stock traded up $1.47 during mid-day trading on Friday, hitting $290.18. The company had a trading volume of 12,031,575 shares, compared to its average volume of 17,076,324. The stock's fifty day moving average price is $260.05 and its two-hundred day moving average price is $222.13. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $292.59. The firm has a market cap of $1.36 trillion, a PE ratio of 108.68, a price-to-earnings-growth ratio of 2.06 and a beta of 1.12.

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

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

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. The Goldman Sachs Group initiated coverage on shares of Broadcom in a report on Thursday, July 10th. They set a "buy" rating and a $315.00 target price on the stock. Citigroup raised their price objective on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Broadcom currently has an average rating of "Buy" and an average price target of $292.08.

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.