Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Adero Partners LLC

Adero Partners LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 40.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,317 shares of the semiconductor manufacturer's stock after buying an additional 1,253 shares during the quarter. Adero Partners LLC's holdings in Broadcom were worth $723,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AVGO. Canton Hathaway LLC bought a new position in shares of Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the 4th quarter worth about $32,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVGO. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Bank of America increased their price objective on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 price objective (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and a consensus target price of $276.09.

Broadcom Stock Performance

NASDAQ:AVGO opened at $248.70 on Monday. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $213.01 and a 200-day moving average of $209.85. The firm has a market cap of $1.17 trillion, a price-to-earnings ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 88.39%.

Broadcom declared that its board has authorized a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding 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 an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Broadcom

In other news, 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 value 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 trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 730,576 shares of company stock valued at $133,778,494 over the last ninety days. Corporate 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.

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