Capital Investment Advisory Services LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,209 shares of the semiconductor manufacturer's stock after purchasing an additional 2,847 shares during the quarter. Capital Investment Advisory Services LLC's holdings in Broadcom were worth $7,569,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after buying an additional 18,845 shares during the period. Nebula Research & Development LLC lifted its holdings in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares during the period. Coppell Advisory Solutions LLC raised its holdings in Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after purchasing an additional 86,884 shares during the period. Colonial Trust Co SC raised its holdings in Broadcom by 14.6% in the 4th quarter. Colonial Trust Co SC now owns 10,085 shares of the semiconductor manufacturer's stock worth $2,338,000 after purchasing an additional 1,285 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Broadcom by 7.3% in the 4th quarter. Mackenzie Financial Corp now owns 2,695,694 shares of the semiconductor manufacturer's stock worth $624,970,000 after purchasing an additional 183,474 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.
Insiders Place Their Bets
In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the transaction, the chief executive officer owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 854,716 shares of company stock valued at $221,433,761. Insiders own 2.00% of the company's stock.
Broadcom Price Performance
Shares of NASDAQ:AVGO traded up $4.97 during midday trading on Friday, hitting $274.87. The company had a trading volume of 10,592,655 shares, compared to its average volume of 28,575,138. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $277.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The business's 50-day simple moving average is $238.77 and its 200-day simple moving average is $217.22.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm earned $10.96 earnings per share. On average, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom announced that its board has authorized a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.
Broadcom Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom's payout ratio is presently 88.39%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the company. Citigroup upped their price target on Broadcom from $276.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a report on Saturday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Benchmark upped their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Bank of America upped their price target on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, June 6th. One investment 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 stock. According to MarketBeat.com, Broadcom has a consensus rating of "Buy" and an average price target of $281.46.
View Our Latest Research Report on AVGO
About Broadcom
(
Free Report)
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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