Compass Capital Corp MA ADV Acquires 1,672 Shares of Broadcom Inc. (NASDAQ:AVGO)

Compass Capital Corp MA ADV boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 69.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,074 shares of the semiconductor manufacturer's stock after purchasing an additional 1,672 shares during the quarter. Compass Capital Corp MA ADV's holdings in Broadcom were worth $669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Tallon Kerry Patrick acquired a new position in Broadcom during the 4th quarter valued at approximately $357,000. Capital & Planning LLC boosted its position in Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after purchasing an additional 554 shares during the period. LaFleur & Godfrey LLC boosted its position in Broadcom by 18.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after purchasing an additional 12,345 shares during the period. Brighton Jones LLC boosted its position in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Broadcom during the 4th quarter worth $71,312,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVGO shares. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Oppenheimer boosted their price target on Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. JPMorgan Chase & Co. upped their price objective on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Finally, Evercore ISI restated an "outperform" rating and issued a $304.00 price objective (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.09.

Broadcom Stock Down 0.5%

NASDAQ:AVGO traded down $1.27 during trading hours on Friday, hitting $249.99. 42,100,140 shares of the company's stock traded hands, compared to its average volume of 29,751,829. The firm has a market cap of $1.18 trillion, a P/E ratio of 93.63, a P/E/G ratio of 1.79 and a beta of 1.11. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock's fifty day moving average price is $220.48 and its two-hundred day moving average price is $212.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating 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%. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $10.96 earnings per share. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 88.39%.

Broadcom announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $250.35, for a total value of $200,280.00. Following the transaction, the director now directly owns 25,382 shares of the company's stock, valued at $6,354,383.70. This represents a 3.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer now directly owns 1,014,152 shares in the company, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 849,134 shares of company stock valued at $163,760,949. Company 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.