Empirical Finance LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,070 shares of the semiconductor manufacturer's stock after acquiring an additional 1,730 shares during the period. Broadcom accounts for 1.4% of Empirical Finance LLC's portfolio, making the stock its 10th largest holding. Empirical Finance LLC's holdings in Broadcom were worth $23,954,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. True Wealth Design LLC lifted its position in Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the period. Mizuho Bank Ltd. lifted its position in Broadcom by 7.1% during the 4th quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock valued at $174,000 after purchasing an additional 50 shares during the period. Fulton Breakefield Broenniman LLC lifted its position in Broadcom by 2.4% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after purchasing an additional 50 shares during the period. American Financial Advisors LLC lifted its position in Broadcom by 3.8% during the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after purchasing an additional 52 shares during the period. Finally, First Bank & Trust lifted its position in Broadcom by 1.9% during the 1st quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer's stock valued at $493,000 after purchasing an additional 55 shares during the period. Institutional investors own 76.43% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on AVGO shares. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. JPMorgan Chase & Co. upped their price target on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Wells Fargo & Company upped their price target on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Finally, Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $292.08.
View Our Latest Stock Report on Broadcom
Insider Activity
In other Broadcom news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 830,516 shares of company stock worth $217,224,641. Corporate insiders own 2.00% of the company's stock.
Broadcom Trading Up 0.5%
NASDAQ AVGO opened at $290.18 on Friday. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 108.68, a PEG ratio of 2.05 and a beta of 1.12. The stock's 50 day moving average price is $260.05 and its two-hundred day moving average price is $222.18. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $292.59.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the company earned $10.96 EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.
Broadcom declared that its board has authorized a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.
Broadcom Profile
(
Free Report)
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.
See Also
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).

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