Dynamic Advisor Solutions LLC Has $17.75 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Dynamic Advisor Solutions LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,005 shares of the semiconductor manufacturer's stock after selling 2,522 shares during the period. Dynamic Advisor Solutions LLC's holdings in Broadcom were worth $17,748,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tallon Kerry Patrick bought a new position in Broadcom during the fourth quarter worth $357,000. Capital & Planning LLC increased its holdings in shares of Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after buying an additional 554 shares in the last quarter. LaFleur & Godfrey LLC increased its holdings 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 in the last quarter. Brighton Jones LLC raised its holdings in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Broadcom in the fourth quarter worth about $71,312,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Evercore ISI reiterated an "outperform" rating and issued a $304.00 target price (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. UBS Group lifted their price objective on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Mizuho boosted their price objective on shares of Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Finally, Barclays upped their price target on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $276.09.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $1.89 during trading on Wednesday, reaching $251.26. 27,038,161 shares of the stock were exchanged, compared to its average volume of 30,069,414. The firm has a market cap of $1.18 trillion, a PE ratio of 94.10, a PEG ratio of 1.79 and a beta of 1.11. 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 12 month low of $128.50 and a 12 month high of $265.43. The stock has a 50-day moving average price of $216.21 and a 200-day moving average price of $210.74.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 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 business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the firm earned $10.96 earnings per share. Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 0.94%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom declared that its board has initiated a stock buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares of the company's stock, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 848,334 shares of company stock worth $163,560,669. 2.00% of the stock is currently owned by corporate insiders.

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.