Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 118.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 684,538 shares of the semiconductor manufacturer's stock after acquiring an additional 371,451 shares during the quarter. Broadcom comprises approximately 2.6% of Union Bancaire Privee UBP SA's holdings, making the stock its 9th largest holding. Union Bancaire Privee UBP SA's holdings in Broadcom were worth $113,559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tallon Kerry Patrick bought a new stake in Broadcom in the 4th quarter valued at $357,000. Capital & Planning LLC increased its holdings in Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after buying an additional 554 shares during the period. LaFleur & Godfrey LLC increased its holdings in Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after buying an additional 12,345 shares during the period. Brighton Jones LLC increased its holdings in 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 buying an additional 5,322 shares during the period. Finally, Revolve Wealth Partners LLC increased its holdings 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 buying an additional 756 shares during the period. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Mizuho upped their target price on shares of Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Barclays upped their target price on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus target price of $276.09.

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the sale, the director now directly owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider now directly owns 789,784 shares of the company's stock, valued at $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 730,576 shares of company stock valued at $133,778,494. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 2.9%

Broadcom stock traded down $7.37 during trading hours on Friday, reaching $248.70. 19,002,301 shares of the company's stock traded hands, compared to its average volume of 30,383,406. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The firm has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 202.86, a PEG ratio of 2.29 and a beta of 1.11. The firm's 50 day moving average is $213.01 and its 200-day moving average is $209.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $10.96 EPS. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.95%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom declared that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares buyback programs are often a sign that the company's leadership 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.