Dupont Capital Management Corp Purchases 4,307 Shares of Broadcom Inc. (NASDAQ:AVGO)

Dupont Capital Management Corp increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,431 shares of the semiconductor manufacturer's stock after purchasing an additional 4,307 shares during the period. Dupont Capital Management Corp's holdings in Broadcom were worth $9,951,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. SlateStone Wealth LLC lifted its stake in shares of Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after buying an additional 47 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares during the last quarter. Bfsg LLC lifted its position in Broadcom by 12.5% in the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after acquiring an additional 50 shares in the last quarter. Global Strategic Investment Solutions LLC boosted its stake in Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after purchasing an additional 50 shares during the last quarter. Finally, Cascade Financial Partners LLC boosted its stake in Broadcom by 1.8% during the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock valued at $668,000 after purchasing an additional 50 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. This trade represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 875,444 shares of company stock worth $172,097,492. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

AVGO traded up $10.00 during trading on Tuesday, reaching $263.77. 32,724,001 shares of the company were exchanged, compared to its average volume of 29,444,004. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.58. The company's 50-day moving average is $221.98 and its two-hundred day moving average is $213.28. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.24 trillion, a price-to-earnings ratio of 98.79, a P/E/G ratio of 1.78 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the firm posted $10.96 earnings per share. The company's revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its board has approved a stock buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.89%. Broadcom's payout ratio is currently 88.39%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Cowen restated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Tuesday. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, UBS Group upped their price objective on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $281.25.

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.