Close Asset Management Ltd Has $3.57 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Close Asset Management Ltd increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 135.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,343 shares of the semiconductor manufacturer's stock after acquiring an additional 12,275 shares during the period. Close Asset Management Ltd's holdings in Broadcom were worth $3,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AVGO. True Wealth Design LLC increased its holdings in Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after purchasing an additional 48 shares during the last quarter. Mizuho Bank Ltd. increased its holdings in Broadcom by 7.1% during the 4th quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock worth $174,000 after purchasing an additional 50 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its holdings in Broadcom by 2.4% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock worth $357,000 after purchasing an additional 50 shares during the last quarter. American Financial Advisors LLC increased its holdings in shares of Broadcom by 3.8% in the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after acquiring an additional 52 shares during the last quarter. Finally, First Bank & Trust increased its holdings in shares of Broadcom by 1.9% in the 1st quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer's stock valued at $493,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Benchmark increased their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Mizuho increased their price target on Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Redburn Atlantic assumed coverage on Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target for the company. UBS Group increased their price target on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Cowen restated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $292.08.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at $85,066,115.49. This trade represents a 10.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,224,641 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

AVGO stock opened at $278.59 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a one year low of $128.50 and a one year high of $290.54. The firm 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 PE ratio of 104.34, a P/E/G ratio of 2.05 and a beta of 1.12.

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, topping the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company earned $10.96 EPS. The company's revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

Broadcom declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

About Broadcom

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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