Generali Investments CEE investicni spolecnost a.s. Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Generali Investments CEE investicni spolecnost a.s. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 138.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,799 shares of the semiconductor manufacturer's stock after buying an additional 26,599 shares during the quarter. Generali Investments CEE investicni spolecnost a.s.'s holdings in Broadcom were worth $7,668,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC increased its stake in shares of Broadcom by 1.6% in the 1st quarter. Wayfinding Financial LLC now owns 3,605 shares of the semiconductor manufacturer's stock valued at $603,000 after acquiring an additional 56 shares in the last quarter. Jackson Thornton Wealth Management LLC increased its stake in shares of Broadcom by 1.5% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 4,204 shares of the semiconductor manufacturer's stock valued at $719,000 after acquiring an additional 63 shares in the last quarter. Olde Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $134,000. Capital Investment Advisory Services LLC increased its stake in shares of Broadcom by 6.7% in the 1st quarter. Capital Investment Advisory Services LLC now owns 45,209 shares of the semiconductor manufacturer's stock valued at $7,569,000 after acquiring an additional 2,847 shares in the last quarter. Finally, Morris Financial Concepts Inc. increased its stake in shares of Broadcom by 8.7% in the 1st quarter. Morris Financial Concepts Inc. now owns 1,419 shares of the semiconductor manufacturer's stock valued at $238,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $4.97 during midday trading on Friday, hitting $274.87. The company's stock had a trading volume of 10,592,655 shares, compared to its average volume of 28,575,138. The stock has a fifty day moving average price of $238.77 and a 200 day moving average price of $217.22. Broadcom Inc. has a one year low of $128.50 and a one year high of $277.71. 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 $1.29 trillion, a price-to-earnings ratio of 102.95, a P/E/G 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 company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.96 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom announced that its board has authorized a share buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Rosenblatt Securities lifted their price target on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday. Truist Financial set a $295.00 price target on shares of Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Susquehanna lifted their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Finally, HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $281.46.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 854,716 shares of company stock worth $221,433,761 in the last ninety days. Insiders own 2.00% of the company's stock.

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.