Decatur Capital Management Inc. Raises Stake in Broadcom Inc. $AVGO

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Decatur Capital Management Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,425 shares of the semiconductor manufacturer's stock after purchasing an additional 2,508 shares during the quarter. Broadcom makes up approximately 2.9% of Decatur Capital Management Inc.'s investment portfolio, making the stock its 10th largest holding. Decatur Capital Management Inc.'s holdings in Broadcom were worth $5,596,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AVGO. Sunbeam Capital Management LLC bought a new position in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom during the fourth quarter worth about $30,000. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the first quarter worth about $25,000. Cheviot Value Management LLC bought a new position in Broadcom during the first quarter worth about $25,000. Finally, Inlight Wealth Management LLC bought a new position in Broadcom during the first quarter worth about $26,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 0.2%

Shares of NASDAQ AVGO opened at $305.76 on Tuesday. The company has a 50 day simple moving average of $279.50 and a 200 day simple moving average of $230.48. The firm has a market cap of $1.44 trillion, a PE ratio of 114.52, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business earned $10.96 EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Susquehanna raised their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Citigroup raised their price target on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Bank of America raised their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Cowen reaffirmed a "buy" rating on shares of Broadcom in a research 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 three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $295.96.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.