CX Institutional Purchases 15,508 Shares of Broadcom Inc. (NASDAQ:AVGO)

CX Institutional lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,581 shares of the semiconductor manufacturer's stock after acquiring an additional 15,508 shares during the period. CX Institutional's holdings in Broadcom were worth $16,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kozak & Associates Inc. lifted its stake in shares of Broadcom by 15.9% in the 1st quarter. Kozak & Associates Inc. now owns 6,777 shares of the semiconductor manufacturer's stock valued at $1,209,000 after purchasing an additional 930 shares during the last quarter. MV Capital Management Inc. raised its stake in shares of Broadcom by 22.3% in the 1st quarter. MV Capital Management Inc. now owns 3,682 shares of the semiconductor manufacturer's stock valued at $616,000 after acquiring an additional 672 shares during the period. Franklin Street Advisors Inc. NC lifted its holdings in shares of Broadcom by 30.8% in the 1st quarter. Franklin Street Advisors Inc. NC now owns 209,611 shares of the semiconductor manufacturer's stock worth $35,095,000 after acquiring an additional 49,347 shares during the last quarter. Trueblood Wealth Management LLC increased its holdings in Broadcom by 4.1% in the 1st quarter. Trueblood Wealth Management LLC now owns 6,057 shares of the semiconductor manufacturer's stock valued at $1,014,000 after purchasing an additional 239 shares during the last quarter. Finally, Ipsen Advisor Group LLC raised its position in Broadcom by 2.6% in the first quarter. Ipsen Advisor Group LLC now owns 6,610 shares of the semiconductor manufacturer's stock valued at $1,107,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVGO shares. Morgan Stanley lifted their target price on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Rosenblatt Securities raised their price objective on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Barclays boosted their price objective on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Benchmark increased their target price on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $272.71.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $3.29 during mid-day trading on Thursday, reaching $256.20. The company had a trading volume of 10,290,941 shares, compared to its average volume of 30,884,537. The business's 50-day simple moving average is $209.12 and its 200 day simple moving average is $207.94. The firm has a market cap of $1.20 trillion, a price-to-earnings ratio of 208.97, a PEG ratio of 2.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the company earned $10.96 EPS. Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom declared that its Board of Directors has approved 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 an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by corporate insiders.

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.