Broadcom Inc. (NASDAQ:AVGO) is Teachers Retirement System of The State of Kentucky's 7th Largest Position

Teachers Retirement System of The State of Kentucky boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 934,119 shares of the semiconductor manufacturer's stock after purchasing an additional 29,228 shares during the quarter. Broadcom accounts for approximately 1.4% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 7th biggest position. Teachers Retirement System of The State of Kentucky's holdings in Broadcom were worth $156,398,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the 4th quarter worth approximately $30,000. Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the fourth quarter valued at $32,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom in the first quarter valued at $25,000. Finally, Inlight Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter valued at $26,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVGO. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. KeyCorp lifted their target price on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Barclays lifted their target price on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Finally, Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $292.08.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction that occurred on Monday, June 23rd. The stock was 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 directly owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO stock traded down $9.41 on Tuesday, hitting $278.80. 11,313,435 shares of the stock were exchanged, compared to its average volume of 27,715,405. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $1.31 trillion, a PE ratio of 104.55, a P/E/G ratio of 2.02 and a beta of 1.12. Broadcom Inc. has a one year low of $128.50 and a one year high of $290.54. The firm's 50 day moving average is $254.41 and its two-hundred day moving average is $220.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $14.98 billion. During the same quarter last year, the company earned $10.96 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed 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. 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 0.85%. Broadcom's dividend payout ratio is 88.39%.

Broadcom announced that its Board of Directors has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.