Edgestream Partners L.P. Has $2.78 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Edgestream Partners L.P. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 88.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,608 shares of the semiconductor manufacturer's stock after acquiring an additional 7,803 shares during the quarter. Edgestream Partners L.P.'s holdings in Broadcom were worth $2,781,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Fortress Financial Solutions LLC raised its holdings in shares of Broadcom by 2.0% in the 1st quarter. Fortress Financial Solutions LLC now owns 3,223 shares of the semiconductor manufacturer's stock worth $540,000 after purchasing an additional 62 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Broadcom by 3.5% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 28,703 shares of the semiconductor manufacturer's stock worth $4,806,000 after buying an additional 961 shares during the period. UNICOM Systems Inc. lifted its position in Broadcom by 9.6% in the first quarter. UNICOM Systems Inc. now owns 300,300 shares of the semiconductor manufacturer's stock worth $50,279,000 after purchasing an additional 26,300 shares during the period. Florida Financial Advisors LLC lifted its position in shares of Broadcom by 80.5% during the 1st quarter. Florida Financial Advisors LLC now owns 12,122 shares of the semiconductor manufacturer's stock valued at $2,033,000 after acquiring an additional 5,405 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of Broadcom by 9.5% during the 1st quarter. Bleakley Financial Group LLC now owns 157,120 shares of the semiconductor manufacturer's stock valued at $26,307,000 after acquiring an additional 13,682 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at $85,066,115.49. The trade was a 10.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $274.30, for a total transaction of $219,440.00. Following the sale, the director directly owned 24,582 shares in the company, valued at $6,742,842.60. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 in the last ninety days. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVGO. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Mizuho upped their price target on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday. Citigroup upped their price target on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group began coverage on Broadcom in a research report on Thursday, July 10th. They set a "buy" rating and a $315.00 price target on the stock. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $292.08.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $3.11 during trading on Friday, reaching $283.34. The stock had a trading volume of 15,006,524 shares, compared to its average volume of 27,818,679. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $288.28. The business's 50-day moving average price is $254.41 and its 200 day moving average price is $220.25. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market capitalization of $1.33 trillion, a PE ratio of 106.12, a P/E/G ratio of 2.02 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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 firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the previous year, the business earned $10.96 EPS. The business's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its board has authorized a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.83%. Broadcom's dividend payout ratio is currently 88.39%.

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.