Broadcom Inc. (NASDAQ:AVGO) Position Boosted by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 653,773 shares of the semiconductor manufacturer's stock after buying an additional 22,779 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Broadcom were worth $109,461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. Canton Hathaway LLC purchased a new position in Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth $26,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter worth $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom in the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Broadcom in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AVGO shares. Redburn Atlantic started coverage on Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. Evercore ISI reissued an "outperform" rating and set a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Oppenheimer raised their price target on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Benchmark boosted their price objective on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $281.25.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $10.00 during trading on Tuesday, hitting $263.77. 32,724,001 shares of the company traded hands, compared to its average volume of 29,327,658. 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 business's fifty day moving average is $223.68 and its 200-day moving average is $213.63. The stock has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 98.79, a PEG ratio of 1.81 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.58.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for 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 firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the company earned $10.96 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.89%. Broadcom's payout ratio is currently 88.39%.

Broadcom announced that its Board of Directors has approved a stock 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 buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 875,444 shares of company stock valued at $172,097,492. Insiders own 2.00% of the company's stock.

Broadcom 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.