Calton & Associates Inc. Acquires Shares of 3,666 Broadcom Inc. (NASDAQ:AVGO)

Calton & Associates Inc. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,666 shares of the semiconductor manufacturer's stock, valued at approximately $644,000.

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

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $274.30, for a total transaction of $219,440.00. Following the completion of the sale, the director directly owned 24,582 shares in the company, valued at $6,742,842.60. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 830,516 shares of company stock valued at $217,224,641. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Susquehanna boosted 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. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Citigroup boosted their price objective on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Wells Fargo & Company raised their price target on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $292.08.

Broadcom Price Performance

AVGO traded down $9.26 on Tuesday, hitting $278.95. 10,652,934 shares of the stock were exchanged, compared to its average volume of 27,711,955. The business has a 50-day moving average of $254.41 and a two-hundred day moving average of $220.17. The firm has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 104.51, a PEG ratio of 2.02 and a beta of 1.12. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $290.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. 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 earned $10.96 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its board has authorized a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.85%. Broadcom's dividend payout ratio is presently 88.39%.

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.