LaSalle St. Investment Advisors LLC Acquires 3,972 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Points

• LaSalle St. Investment Advisors LLC increased its holdings in Broadcom Inc. by 33.4% in Q1, making it the 24th largest holding in their portfolio, valued at approximately $2.66 million.
• Broadcom's recent earnings report showcased an EPS of $1.58, slightly beating expectations, with a revenue of $15 billion, marking a 20.2% year-on-year increase.
• The stock has a current market cap of $1.43 trillion and has experienced significant institutional support, with 76.43% of its shares owned by institutional investors and hedge funds.

LaSalle St. Investment Advisors LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 33.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,858 shares of the semiconductor manufacturer's stock after acquiring an additional 3,972 shares during the quarter. Broadcom accounts for 0.6% of LaSalle St. Investment Advisors LLC's holdings, making the stock its 24th biggest position. LaSalle St. Investment Advisors LLC's holdings in Broadcom were worth $2,655,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC bought a new position in Broadcom during the first quarter worth about $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider owned 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 disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,224,641 over the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.4%

Broadcom stock traded up $1.21 during trading hours on Friday, hitting $304.97. The stock had a trading volume of 12,439,353 shares, compared to its average volume of 17,052,154. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 114.22, a P/E/G ratio of 2.16 and a beta of 1.15. Broadcom Inc. has a one year low of $134.90 and a one year high of $310.34. The business's 50 day simple moving average is $272.87 and its 200-day simple moving average is $226.82.

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. Evercore ISI restated an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Finally, Susquehanna lifted their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $294.92.

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.